US Top Rating Updates on 8/12: MSFT, ORCL, SNOW, CRM and more

Guggenheim analyst John DiFucci initiated coverage of $Microsoft(MSFT.US)$ with a Neutral rating and $292 price target. While he believes Microsoft can grow revenue and free cash flow in the mid-teens percentage on average, driven by upside to consensus numbers in Azure and Office Commercial 365, he sees continued declines in Windows that he believes are still "not fully reflected in consensus estimates," DiFucci tells investors.

Guggenheim analyst John DiFucci initiated coverage of $Oracle(ORCL.US)$ with a Buy rating and $107 price target. Oracle began to see a material uptick in FY22 following several years of low single-digit growth, driven by accelerating organic Cloud revenue and the best database performance in 8 years, and DiFucci expects the momentum to continue, which could sustain high single-digit revenue growth and double-digit profit growth, the analyst tells investors in a research note.

Guggenheim analyst John DiFucci initiated coverage of $Salesforce(CRM.US)$ with a Sell rating and $150 price target as part of a broader research note on Software names. The near-term macro weakness will likely persist for longer than most investors anticipate and even software is susceptible to macro forces, the analyst tells investors in a research note.