Jefferies ‘incrementally positive’ on Microsoft’s Copilots after conference

After having attended Microsoft’s Envision conference, Jefferies came away “incrementally positive” on the ability of Copilots to drive a revenue uplift in calendar year 2024. Most Copilots will see general availability within the next 12 months and the firm’s conversations pointed to “an impressive pipeline” of more than 10,000 customers, says the analyst, who maintains a $400 price target and Buy rating on Microsoft shares.