Publish date:

BofA Upgrades Microsoft

Estimates are too low, the firm says.

Banc of America upgraded Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report to buy from neutral Friday.

The firm said analyst estimates on the Redmond, Wash., software giant are low and that the company could spur buying in its shares with bullish comments at an analyst meeting later this month. BofA has a $35 price target on the stock.

Microsoft shares, which soared to a 52-week high above $31 earlier this month after finally breaking out of a years-long slump in the mid-$20s late last year, rose 29 cents early Friday to $30.85.

TheStreet Recommends