Guided by Microsoft: CSFB Raises Software Maker's Rating, Target

Credit Suisse First Boston analyst Wendell Laidley upgraded Microsoft(MSFT Quote) to strong buy from buy this morning, citing increased revenue opportunities and the expectations of an improvement in the PC market in the next six to 12 months.

The upgrade comes the morning after the software maker said it would beat Wall Street's revenue expectations for the second quarter, despite the ailing economy.

Laidley also raised his target price on Microsoft to $100, up from the prior target of $75. Shares of Microsoft closed yesterday's session at $66.50. Microsoft rose 6.5% to $70.80 in Instinet action before the opening bell.