The shares of Microsoft Corporation (NASDAQ: MSFT) have received a $301 price target from Rosenblatt Securities. And Rosenblatt Securities analyst John McPeake reiterated a “Buy” rating on the company shares.
In a research report via Benzinga, McPeake pointed out that even though Microsoft is behind Amazon’s AWS, the company is making strong in-roads. And McPeake pointed out that Microsoft struck a deal with AT&T. As part of the deal, AT&T is going to run its mobility network on Microsoft Azure.
This deal could be worth over $1 billion per year for Microsoft Azure. AT&T has 96.3 million subscribers and 186.1 million connected devices as of the end of the first quarter.