Microsoft stock rating upgraded to "buy" by Deutsche Bank

Microsoft's enterprise focused products seem to be generating a lot of positivity for the company as the Deutsche Bank has upgraded the company's stock rating following the recently concluded Ignite conference in Chicago.

Last month, Deutsche Bank had reaffirmed the "hold" rating for Microsoft stock while analysts from other agencies such as the Credit Suisse Group and Wells Fargo had upgraded the rating to "buy" and "outperform" respectively. Now, following the recent Ignite conference targeting mainly on enterprise customers, Deutsche Bank has upgraded the rating to "buy" with a price target of $55 from $44.

Enterprise products and services bring in a major chunk of Microsoft's revenues and they have been growing significantly which seems to have helped change Deutsche Bank's perception. Speaking about Ignite, Karl Keirstead, a software equity research analyst at Deutsche Bank, said that "we came away incrementally more comfortable that this momentum can be sustained."

With the upcoming launch of the Windows 10 family of operating systems, Windows Server products, updates to Office 365 and Azure, Microsoft investors are beginning to feel the enthusiasm, according to Keirstead.

Last year, Microsoft stock hit its highest value in 15 years and has maintained its value this year, but with this kind of investor interest, it could reach new heights by the end of 2015.

Source: Benzinga

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