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Microsoft target raised on healthy IT spending

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

Cowen maintains an Outperform rating on Microsoft (NASDAQ:MSFT) and raises the target by $10 to $165. MSFT has a Very Bullish average Sell Side rating.

The firm says that an IT spending survey "suggests a healthy ‘20 outlook, which bodes well for MSFT given its leadership position in key secular growth markets."

More than 60% of survey respondents called Microsoft "the most strategic vendor for digital transformation projects."

Microsoft shares are up 0.2% pre-market to $151.93.