Wells Fargo added the tech stock to its fourth-quarter Tactical Ideas List. Jefferies was positive as well.
Microsoft stock has jumped this year as a result of investors’ excitement over artificial intelligence, but analysts see more reasons for it to rise.
Turrin wrote in a research note that while the stock has surged 32% this year, it had dropped around 7% since the company reported fourth-quarter earnings in July. That means it is a good time to buy, given that several potential positive factors are ahead, he said. The analyst is also looking toward Microsoft Ignite, a product event scheduled for November, which he said could create positive sentiment about the company.
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