Microsoft stock has held up better than many peers during the recent tech stock sell-off. So on Thursday, Microsoft (MSFT) received a fresh buy rating from an analyst who said the company’s many strengths cannot be denied.
Rosenblatt Securities analyst John McPeake initiated coverage of Microsoft stock with a buy rating and a 12-month price target of 301.
On the stock market today, Microsoft stock rose 1.7% to 243.03.
“Microsoft is the most important software company on the planet,” McPeake said in a note to clients. “With 75% of revenues coming from recurring and repeatable sources and multiple growth drivers ahead, we think Microsoft’s risk/reward is highly favorable.”
50% Upside Possible For Microsoft Stock
McPeake provided a long list Microsoft’s market strengths. Microsoft has more than 1.3 billion devices worldwide running its Windows 10 operating system. It has more than 1.2 billion users of Microsoft Office software. Microsoft also boasts the largest software developer community in the world at upwards of 55 million unique users on GitHub.