Loop Capital expects in-line results from Microsoft

Loop Capital analyst Yun Kim keeps a Buy rating and $425 price target on Microsoft ahead of its Q1 results. Loop Capital’s checks are indicating broader enterprise spending trends remaining largely consistent from prior quarters, the firm states, adding that it is expecting the company to report results and issue guidance that are largely in line with Street estimates, the analyst tells investors in a research note. Loop further notes that investors’ focus will be on Azure, and the firm sees Azure growth to be largely in-line at 26% y/y in constant currency vs. its guidance of 25%-26%.