Wells Fargo Sees 'Bright Future Ahead' For Microsoft

Wells Fargo analyst Micahel Turrin initiated coverage of Microsoft Corp MSFT with an Overweight rating and a $400 price target, implying a 15% upside.

• Even after becoming one of the largest companies on the planet, Microsoft still has a "bright future ahead." 
• The company has continued growth opportunities in "huge categories" of IT spend, the ability further to monetize its strong positioning in multiple end markets, and a financial profile that continues to exhibit stable growth and margin expansion. 
• He likes the growth of Azure, Microsoft's "productivity ubiquity," and its "impressive" margin profile.
• Price Action: MSFT shares traded higher by 1.81% at $349.33 on the last check Monday.