Microsoft (NASDAQ:MSFT) has some exciting news coming up later this week, thanks to a new partner program exhibition that’s likely to feature some exciting news for its Xbox division. That’s not all the news it’s got coming up, either, but investors aren’t convinced this will mean big things for shareholders. Microsoft stock is down modestly going into the final minutes of Monday’s trading session.
The partner showcase in question, set to arrive on March 6, will feature a half-hour full of updates from several of Microsoft’s partner studios. On tap to present is mainstay Electronic Arts (NASDAQ:EA), as well as Nexon and Capcom. Also on tap are over a full dozen new trailers of games slated for release in the next few months.
With signs of a gaming drought afoot, this could mean some good news for gamers eager for their next big thrill. After all, just weeks ago, Sony (NYSE:SONY) noted that there would be no first-party games released until March 2025, a huge blow for the PlayStation crowd.
Beyond the Xbox, a Mixed Report
Microsoft is having a mixed bag of issues beyond its gaming profile. It’s been recently acquiring land, particularly in the Southern United States. A recent land purchase near Atlanta is set to expand a data center operation. Microsoft picked up 21 acres of land for around $6 million to expand one operation.
Meanwhile, a 90-acre site that was supposed to bring 15,000 jobs to the Grove Park area is stalled, and Atlanta mayor Andre Dickens is demanding the jobs show up or Microsoft return the land so the city can do something with it instead.
What Is the Target Price of Microsoft Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 32 Buys, one Hold, and one Sell assigned in the past three months, as indicated by the graphic below. After a 62.79% rally in its share price over the past year, the average MSFT price target of $469.56 per share implies 13.21% upside potential.
