2019-12-12 10:01:41 | Cowen boosts Microsoft target to $165 after 'healthy' IT spending surveyCowen analyst Nick Yako raised his price target for Microsoft to $165 from $155 after his firm's IT spending survey suggested a "healthy" 2020 outlook. This bodes well for Microsoft given its leadership position in "key secular growth markets," Yako tells investors in a research note. The software giant also showed up well across the survey and was identified by 62% of respondents as the most strategic vendor for digital transformation projects, adds the analyst. Yako increased his estimates for Microsoft through fiscal 2025 and reiterated an Outperform rating on the shares. The stock in morning trading is up $1.28 to $152.98. |
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