Read Why SMBC Nikko Is Bullish On Microsoft

Benzinga2021-12-22
  • SMBC Nikko analyst Steve Koenig initiated coverage of Microsoft Corp with an Outperform rating and $410 price target.
  • The price target implies an upside of 28%. Microsoft is successfully transitioning its customers to the cloud.
  • Koenig said that Microsoft is "well-positioned at the center of the big secular trends in software" and is primed to capitalize on IT spending priorities.
  • Given Azure's continued momentum, Koenig sees the Microsoft cloud unit being "within spitting distance of AWS for public cloud market leadership by 2025."
  • Price Action: MSFT shares closed higher by 2.31% at $327.29 on Tuesday.
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