Oppenheimer becomes the latest Microsoft (MSFT +1.6%) bull to raise its PT as shares continue their spring rally: the firm has lifted its target to $39 from $34, and has also raised estimates. Meanwhile, activist investor ValueAct, fresh off taking a $2B stake, has been given FTC clearance for an undisclosed transaction between the firm and Microsoft. Nomura (Buy) thinks ValueAct, which prefers to do its activist work behind the scenes, is "likely approaching Microsoft’s largest shareholders and may be gaining their support for a Board seat."
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