ADVERTISEMENT

CREDIT SUISSE: The WannaCry ransomware attack could give Microsoft's stock a boost (MSFT)

The WannaCry ransomware that has spread to computers in 150 countries may end up benefiting Microsoft's stock price.

null

The WannaCry ransomware that has spread to computers in 150 countries may end up benefiting Microsoft's stock price.

ADVERTISEMENT

The ongoing attack, which specifically targets Microsoft operating systems, made headlines last week after it compromised one of the UK's largest hospital systems.

The origins of the attack are currently unknown.

In a recent note out to clients on Tuesday, a group of equity analysts led by Michael Nemeroff identified a dip in the company's stock price in response to the attack as a buying opportunity.

ADVERTISEMENT

The bank said the attack, which exploited "a flaw" in the Windows operating system, illustrates just how many businesses have delayed upgrading their operating systems to Windows 10.

The banks predicts the attack will prompt folks to upgrade, which is a good thing for Microsoft because it will increase the number of new Office 360 Commercial subscriptions.

"The correlation between upgrading to Windows 10 and buying a 365 commercial subscription is high," the analysts wrote.

The bank has a price target of $80 for the stock, above its current market price of about $69 per share.

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

US troop withdrawal from Niger hangs in the balance

US troop withdrawal from Niger hangs in the balance

Detained Binance executives sue Nigerian authorities for human right violation

Detained Binance executives sue Nigerian authorities for human right violation

Nigeria's central bank increases minimum capital base for banks

Nigeria's central bank increases minimum capital base for banks

Sony’s creators convention redefines the creative landscape for content creators

Sony’s creators convention redefines the creative landscape for content creators

Egypt, Nigeria, and South Africa ranked as Africa's most polluted countries in new report

Egypt, Nigeria, and South Africa ranked as Africa's most polluted countries in new report

10 African countries with the lowest life expectancy according to the World Bank

10 African countries with the lowest life expectancy according to the World Bank

Kenyan women are more obese than their men - here’s why

Kenyan women are more obese than their men - here’s why

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

ADVERTISEMENT