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Shares of Microsoft Corp.
MSFT, + 0.68%
were up 0.8% in pre-market trading on Monday after Wedbush analyst Daniel Ives added action to his company's "best ideas" list, citing significant opportunities in the cloud. "Microsoft remains in an enviable position over the next 12 to 18 months after the success of its cloud, and is taking full advantage of its Office 365 and Azure strategic vision based on our recent field checks," said Ives. He said that Microsoft Azure "is starting to bridge the gap" with that of Amazon.com Inc. [s; amzn] AWS, considered the market leader. Ives has an outperformance rating and a $ 140 goal on the stock. Microsoft's stock rose 7.7% in the last three months, while the Dow Jones Industrial Average
DJIA, + 0.69%
gained 7.2%.
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