Microsoft Stock Upgraded: 3 Things You Need to Know

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

Investors in Microsoft (NASDAQ: MSFT) stock are having a good year, with their shares up more than 28% over the past 12 months -- and beating the rest of the stock market by better than 10 percentage points. But here's possibly the best news of all: Microsoft's run is not done.

At least, not according to the analysts at Canaccord Genuity. This morning, the investment banker announced it is upgrading Microsoft stock from hold to buy and assigning this $75 stock an $86 price target. Here are three reasons why.

Source: Fool.com