Oppenheimer analysts raised the price target for Microsoft (NASDAQ:MSFT) to $410 from $330 per share, maintaining an Outperform rating on the stock in a note Thursday.

The analysts upped the MSFT price target after a deep dive into the company’s enterprise and cloud strategic position.

“We believe that Microsoft will improve on its already dominant enterprise IT position, as the only player with an integrated/AI platform, three actually, and with the key wholesale marketplace through Teams/Azure,” they said.

“It can also uniquely integrate compute/networking/security services, which are converging. It has 1B Windows users and 1.5B devices; no one in the business segment comes close,” they added.

The analysts also noted that Microsoft has access to its own and others’ enterprise applications and data, to drive network automation and novel services. As a result, they believe that while AWS (NASDAQ:AMZN) and Google (NASDAQ:GOOGL) should remain strong in wholesale, “neither has the customer base nor the front-end operating system and integrated applications.”