TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer said on Thursday he agrees with analysts at Oppenheimer who upgraded shares of Microsoft to OUTPERFORM and put a $62 price target on the shares. Cramer said he likes the call, arguing that too often Microsoft is thought of as just a play on the sluggish PC market. Cramer believes the tech giant’s cloud business is ‘on fire,’ much like Oracle’s (ORCL) and Salesforce.com (CRM). He also reminded investors that Adobe Systems (ADBE) , another company with an attractive cloud business, reports earnings after the closing bell on Thursday and it is one he’ll be watching. Another factor in the equation that investors don’t seem to be talking about is the declining U.S. dollar, which is great for companies with overseas operations, Cramer explained.
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