Jefferies Analyst Sees 16% Upside in Microsoft
In a note released Friday, Jefferies raised the price target for Microsoft (NASDAQ: MSFT) from $42 to $47 and reiterated a Buy rating.
Analyst Ross MacMillan believes Microsoft Office for iPad may be a bigger opportunity than previously expected.
23 percent of consumers are willing to pay $100 per year for access to Microsoft Office on multiple devices, said MacMillian. This may drive $2-$4 incremental value per share for the stock.
Shares of Microsoft have been hot lately, rising 6.8 percent this week alone. However, the price target bump has not moved the stock much today, as shares are flat.
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