NEW YORK (TheStreet) -- The market continues to reward Microsoft (MSFT) for the expected announcement it will offer the Office suite of programs on Apple's (AAPL) iPad format. Microsoft stock reached a 14-year high Thursday afternoon up 2.7% to $40.35.
Speculation has been running rampant ahead of the computer company's March 27 press conference scheduled in San Francisco. An Office move to Apple would mark a change of philosophy from new CEO Satya Nadella for the ubiquitous software company which has previously focused on providing software for its own PC brands.
Analysts see the change as a potential boon for the company. Barclays increased their price target to $44 from $43. Cowen and Company increased their price target to $40 from $39. Both are higher than the average price target of $36.53.
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TheStreet Ratings team rates MICROSOFT CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICROSOFT CORP (MSFT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."