Microsoft Gets a Raise from Nomura, Price Target Boosted

Microsoft (MSFT) got its price target boosted to $56 from $50 at Nomura. The firm was already bullish on the stock with a BUY rating. Analysts at Nomura think there is an upside to earnings. The new price target suggests about a 16.5% increase to the stock's current price. Some other reasons Nomura gave for increasing its price target include the new board, which it believes 'may soon take issue of returning cash to shareholders.' The firm thinks the tech giant is inexpensive in its industry. The note really focused on Microsoft's cloud presence saying 'it is now the largest cloud vendor among its peers' and 'office is growing faster in the cloud than it's being cannibalized,' which the firm believes shows the 'transition to the cloud is a net positive.'