• Morgan Stanley analyst Keith Weiss has raised the price target on Microsoft Corp to $331 from $305, implying an 11.5% upside, and reiterated an Overweight.
• Weiss sees the potential for a 10%-plus increase of the company's dividend. Historically Microsoft announces its annual dividend increases in mid-September.
• Given the 32% year-over-year operating income growth seen in FY21, he "conservatively" estimates an increase in the company's quarterly dividend per share to $0.62 from $0.56, supports about a 20% total return profile for Microsoft when combined with the company's high-teens EPS growth, Weiss noted.
• Price Action: MSFT shares traded higher by 0.60% at $298.76 in the premarket session on the last check Tuesday.