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Microsoft (MSFT) stock ate some spinach Friday, powering up a day after the software giant reported much-better-than-expected March-quarter sales and earnings. Microsoft stock was up 8% to near 47 in midday trading on the stock market today, at a three-month high. At least two Wall Street analysts raised their price targets based on Microsoft’s fiscal Q3 performance. UBS analyst Brent Thill reiterated his buy rating on Microsoft stock and raised his price target to 50 from 49. Pacific Crest Securities analyst Brendan Barnicle kept his overweight rating but boosted his price target to 50 from 48. Both analysts cited strength in the company’s Internet cloud computing business as a basis for their bullish research reports. Microsoft’s Q3 shows that it is “not 100% tied to the PC market, contrary to popular belief,” Thill said. “In our view, Microsoft is well ahead of its large cap value… Scalper1 News
Scalper1 News