Microsoft may have just gotten an early Christmas present.
On Wednesday, December 20, Oppenheimer increased its price target on Microsoft Corporation (NASDAQ:MSFT) to $100. As a point of reference, Oppenheimer (NYSE:OPY) used to have a price target of $92. As of this writing, Microsoft is down 0.65%.
The team at Microsoft has a lot going for them right now, after having rolled out a number of new features this week, and with analysts forecasting that the company will grow earnings by 17% in 2020. With that being said, when you take into consideration the company’s strong growth outlook, shares of Microsoft appear to be undervalued. One potential reason for this is because the stock market might not believe that the software company can expand its business at a certain rate of growth that is higher than the slower-growing consumer staples stocks.
That being said, despite appearing to be undervalued, the company still has a lot to be proud of. For instance, on Tuesday, Microsoft launched a massive update to Windows 10 tester. Named ‘Windows 10 build 17063’, the new update includes a Timeline feature and the brand new window tabs that Microsoft disclosed in November. Keep in mind the company has publicly stated that it is considering changing the name by the time Windows 10 is shipped alongside the Fall Creators update. For those who don’t know, this update will allow for Windows 10 machines to use and resume different applications of different devices.
Further, the company disclosed on Tuesday that it has taken the Google Chrome Installer App off of their store. While a spokesperson for the company announced that it violated its Store policies, it’s more likely that the company was just offended that Google was taking an obvious stab at the Windows Store. However, Microsoft will not admit that, stating that they made the decision because it needs to make sure the apps on the store have both unique and distinct value.
Featured Image: depositphotos/borysshevchuk
