While both Teams and Slack have benefited from the coronavirus-related remote-work boom with a surge of new users, Bellini wrote that "the data suggests stronger adoption of MSFT Teams relative to Slack," based on app downloads. The price boost follows Goldman's downgrade of Slack's stock on Friday, when it issued a sell rating instead of its previous neutral position.īellini wrote in a note to investors that she expected the competition between Slack and Microsoft's Teams rival workplace-communications app to be an "enduring battle" over market share. Goldman Sachs raised its price target on Microsoft's stock as the company continues to look like a rare beneficiary of the coronavirus pandemic.Īnalyst Heather Bellini on Tuesday raised Microsoft's 12-month price target to $215 from $198 (it was trading around $197 per share on Wednesday) and maintained the stock's buy rating. A re you a current or former Microsoft employee? Contact this reporter via encrypted messaging app Signal (+1-42) or email Visit Business Insider's homepage for more stories.Goldman Sachs' rating underscores Wall Street's belief that Microsoft will emerge as a big winner from the workplace changes caused by the pandemic.Meanwhile, Goldman Sachs advised investors last week to sell stock in Slack, citing competition from Microsoft, among other risks.
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