Wells Fargo lowered the firm’s price target on Microsoft (MSFT) to $500 from $515 and keeps an Overweight rating on the shares ahead of quarterly results. The firm notes that for better or worse, Q3 likely centers on 3 key metrics, namely Azure growth, CapEx, and EPS growth. Despite elevated near-term debates, Wells still sees Microsoft among cleanest/most direct ways to play software/AI trends.
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