Microsoft’s Cloud Computing Leads Bull Case. It’s Just Part of the Growth Story.

Microsoft

Azure’s growth looks stable, even as the economic environment remains uncertain, says one Wedbush analyst.

Dan Ives increased his 12-month price target on

Microsoft

(ticker: MSFT) to $315 from $290 and maintained his Outperform rating on the stock Wednesday. The analyst cited what he called the stable growth of Azure, Microsoft’s cloud-computing platform, as one reason for his continuing bullishness of the stock.