Microsoft price target lowered to $280 from $290 at Mizuho

Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Microsoft to $280 from $290 and keeps a Buy rating on the shares. All things considered, Microsoft executed reasonably well in fiscal Q2, the analyst tells investors in a research note. Although total revenue was slightly below consensus, Azure revenue growth of 38% year-over-year beat guidance and was much better than buy-side expectations, says the firm. However, it notes the Q3 revenue guidance was meaningfully below estimates. Mizuho remains confident that Microsoft’s growth opportunities over the medium-term and beyond "are greater than many realize."