Microsoft’s ‘Three-Headed Hydra’ of Growth Spurs More Optimism
- Analyst price targets have been rising ahead of its results
- Shares have gained more than 50% off a low hit in March
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Microsoft Corp. analysts have been growing more optimistic about the software company ahead of its fourth-quarter results later this week, with multiple firms raising their price targets on the strength of its cloud-computing business.
At least seven firms have raised their targets over the past week, including four that did so on Monday or over the weekend. Those moves follow both Wedbush and Morgan Stanley earlier this month. The steady drumbeat of higher targets has contributed to Microsoft shares rallying more than 50% off a March low; the stock rose 2.2% on Monday.