COWEN INITIATES MICROSOFT AT OUTPERFORM, STOCK RISES
Microsoft’s stock is currently trading at 138.50-higher by 0.47% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.50%. The stock has pared some of its earlier gains after the opening bell.
Investment bank Cowen initiated coverage of the tech giant’s stock with an outperform rating and $150 price target. The investment bank believes the potential in Microsoft to post an incremental $100 billion in revenue by fiscal 2025, with the tech giant’s Azure cloud businesses and Office 365 to be the primary driver of growth.
Microsoft is scheduled to report its fourth-quarter earnings on 18th July (after market close). Shares of the tech giant have rallied 36% so far in 2019.
On the technical front, the RSI is currently at 66.57% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 138.34 TAKE PROFIT AT 139.14 STOP LOSS AT 137.94