UPDATE: Oppenheimer Raises PT to $36 on Microsoft

Oppenheimer raises its price target on Outperform-rated Microsoft

to $36 from $32 as the company releases a beta version of its anticipated Windows 8. Oppenheimer says, "On 2/29, MSFT delivered on its latest milestone for Windows 8 and launched the "Consumer Preview" (beta) of its next OS. While only the bits for x86 devices are available for download today, we expect MSFT to make WOA devices available for select testers shortly. Also, we remain confident MSFT will launch its final version of Windows 8 for both architectures (ARM and Intel/AMD) at the same time. Although MSFT disclosed few new features from its first developer preview, we liked what we saw and its ability to marry the desktop experience, touch, the cloud and mobile with no compromise." MSFT closed at $31.24 a share yesterday.