Microsoft: shares up as brokers raise target price
(CercleFinance.com) - Microsoft shares are up 1.
5% in early trading on Thursday after two brokers raised their target prices for the stock.
Morgan Stanley raised its target from 198 dollars to 230 dollars, giving the stock an "overweight" rating, while Wedbush Securities raised its target price from 220 dollars to 260 dollars, rating the stock at "outperform".
In a note to clients, Morgan Stanley cites the Redmond, Washington, software giant's "improving long term secular position", while Wedbush hails a "relatively strong" cloud deal activity around Azure during the June quarter, helped by the current homeworking environment.
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