UBS doesn't think Microsoft's (MSFT +0.4%) rally is over; the firm is raising its PT to $40 from $33 ahead of today's 1PM ET Xbox event. Analyst Brent Thill, a long-time bull, cites potentially greater earnings visibility, investor appreciation of Microsoft's cloud momentum, enterprise strength, the return of money flows to tech (ed: it looks like plenty of money has been flowing in), and bottoming PC demand. (past Xbox rumors: I, II, III) (event live blog)
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