Microsoft upgraded after earnings; +2.3% premarket

|About: Microsoft Corporation (MSFT)|By:, SA News Editor

"We are becoming more constructive on Microsoft (NASDAQ:MSFT) as the company starts to provide more compelling evidence of its move to the cloud," says Pacific Crest's Brendan Barnicle, boosting the stock to Outperform with $54 price target. He notes an acceleration in the company's cloud business last quarter thanks to increased adoption of its Azure and Office 365 offerings.

BofA's Kash Rangan throws in the towel on his Underperform rating, saying his team's concerns are apparently not so worrisome to those who invest in the stock.

Shares +2.3% premarket

Previously: Microsoft Corporation misses by $0.06, beats on revenue