CREDIT SUISSE: The WannaCry ransomware attack could give Microsoft's stock a boost
The WannaCry ransomware that has spread to computers in 150 countries may end up benefiting Microsoft's stock price.
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.
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.
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