Citi lowered the firm’s price target on Microsoft to $475 from $480 and keeps a Buy rating on the shares. The analyst remains positive on Microsoft ahead of the fiscal Q3 results as the firm’s quarterly inputs point to strengthening Azure growth trends boosted again by artificial intelligence services, with solid CoPilot interest. A more positive PC backdrop against conservative guidance should yield room for upside across key performance indicators, the analyst tells investors in a research note. Citi adjusted estimates for some slight currency headwinds but its constant currency estimates rise slightly.
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