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Microsoft Price Target Raised by Wedbush on Strength of Cloud Business

Jacob Sonenshine

cloud business could drive yet another earnings beat when the software giant reports its third quarter 2019 earnings next week on April 24. Beyond this earnings report, the cloud business could be primed to drive the stock higher for the next year or so, Wedbush Securities analyst Dan Ives wrote in a Thursday note in which he raised his price target to $150 from $140. The new price target represents 25% upside from the stock's current level.