Microsoft shares climbed Thursday, after Cowen & Co. initiated coverage on the company with an outperform rating and a $150 target price.
Cowen analyst Nick Yako indicated that by fiscal 2025, Microsoft can boost its revenue by $100 billion since it is well-positioned in markets like cloud technology and software-as-a-service.
According to Yako’s estimates, the tech giant would grow its annual earnings by roughly 15% from fiscal 2020 to fiscal 2025.
Cowen’s $150 price target on Microsoft stock represents around 8% upside potential.