- SMBC Nikko analyst Steve Koenig initiated coverage of Microsoft Corp (NASDAQ:MSFT) with an Outperform rating and $410 price target.
- The price target implies an upside of 28%. Microsoft is successfully transitioning its customers to the cloud.
- Koenig said that Microsoft is “well-positioned at the center of the big secular trends in software” and is primed to capitalize on IT spending priorities.
- Given Azure’s continued momentum, Koenig sees the Microsoft cloud unit being “within spitting distance of AWS for public cloud market leadership by 2025.”
- Price Action: MSFT shares closed higher by 2.31% at $327.29 on Tuesday.
Barclays Under UK Probe Over Anti-Money Laundering Systems
The U.K.'s Financial Conduct Authority (FCA) is reportedly investigating Barclays PLC (NYSE: BCS) for suspected failings in its compliance and anti-money laundering systems.
