HSBC analyst Stephen Bersey last night upgraded Microsoft to Buy from Hold with a price target of $413, up from $347. The analyst sees an improved outlook following the company’s stronger than expected fiscal Q1 results. Microsoft’s artificial intelligence exposure is broad and should be a catalyst across its large product portfolio, driving growth and margin expansion, the analyst tells investors in a research note. The firm sees 5%-7% upside to consensus earnings forecasts and an attractive valuation at current share levels.
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