|Evercore raises Microsoft price target, sees $1T valuation by FY21|
Dec. 8, 2017 2:10 PM ET|About: Microsoft Corporation (MSFT)|By: Brandy Betz,
Evercore ISI analysts think Microsoft (NASDAQ: MSFT) can hit a $1T market cap by 2020.
The analysts cite Microsoft 365 products as a growth driver and expect the business to generate $26.86B in sales in FY21, which starts in the second half of 2020.
Over $5B of that revenue will come from Office 365’s consumer business.
The analysts also expect Microsoft’s Azure cloud business to continue growing to FY21 sales of $22.19B.
Price target raises from $93 to $106.