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Author: Alan LittleDate: 2020-10-21

Microsoft (MSFT) gets new $245 price target ahead of fiscal Q1 report

Microsoft (MSFT) shares eased 1.04% higher on Tuesday after Stifel upgraded its price target for the software giant on the prospect of “strong results” in its fiscal Q1 report, which is set to be released early next week.

Analysts at Stifel expect Microsoft to benefit from the recent digital transformation drive following the pandemic, a trend that should boost customer engagement and buying patterns for the latest quarter.

Stifel sees Microsoft coming in with $35.57bn revenue and $1.53 earnings per share (EPS) versus the FactSet survey estimates of $35.76bn and $1.54 EPS.

Cloud revenue is expected to have been particularly strong, growing 29% year-over-year to $14.7bn with a 66% to 69% cloud gross margin.

“Microsoft has refocused the company around Azure and Office 365, which we view as several large multiyear secular growth engines that should help drive mid-to-high single-digit productivity and business-process growth,” analyst Brad Reback noted.

Stifel also tipped Microsoft to offer healthy guidance for late 2020 and early 2021 as it prepares to launch two next-generation games consoles, the Xbox Series S and X.

Microsoft’s cloud computing arm is also in good shape.

Reback saw fit to raise his price target by 11% to $245 and reiterate a buy rating on Tuesday.

MSFT shares traded higher after the market opened and were up around 1% at $216.70 at 2:50pm ET on the Nasdaq.

Procter & Gamble (PG) published its report on Tuesday.

The consumer goods giant logged $1.63 EPS for fiscal Q1, which was 22 cents above the Wall Street estimate, and a 9% spike on organic revenue.

Netflix (NFLX) and Snap (SNAP) are among the heavy hitters that will report earnings before Wednesday’s open.

Microsoft Stock

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