Rosenblatt Held Conviction On Microsoft Ahead Of Q3 - Microsoft (NASDAQ:MSFT)

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Rosenblatt analyst Blair Abernethy reiterated a Buy rating on Microsoft Corp (NASDAQ:MSFT) with a price target of $349.
The price target implied an upside of 27.7%.
Microsoft looks to report its Q3 FY22 results on March 26 after market close.
Also Read: Activision Blizzard Registers 22% Revenue Decline In Q1, Ditches Outlook Due To Microsoft Deal
Abernethy saw enterprise IT spending, Digital Transformation project activity, and shift to the cloud trend remain strong in the March quarter.
Abernethy was comfortable with an 18.6% FY22e revenue growth expectation for Microsoft (which excludes the Nuance (NU-Q, not rated) acquisition that should add ~0.6% to full-year revenues).
However, he saw that the declining Euro would likely add to FY22 forex headwinds.
The pending Activision Blizzard Inc (NASDAQ: ATVI) acquisition (announced in January) will likely close in FY23.
Price Action: MSFT shares traded higher by 1.14% at $277.23 on the last check Monday.

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