Goldman Sachs upgrade Microsoft to buy on growing Cloud Business

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Microsoft Corp. (NASDAQ:MSFT) is a technology company that develops, licenses and supports a range of software products, services and devices. Its segments are Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Its products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.

Microsoft was upgraded by Goldman Sachs from neutral to buy. Goldman Sachs expect the technology company to exceed earnings expectations in the coming years due to its cloud computing business.

“We believe the shares are poised to more consistently outperform in the year ahead on the back of sustained traction in its Cloud offerings (Azure and Office 365) overlaid by steady albeit not spectacular performance out of its legacy PC-linked software business,” analyst Heather Bellini wrote to clients.

“We have high conviction in our above consensus revenue and non-GAAP EPS forecasts for the next few years.”

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