Microsoft price target raised to $282 from $280 at Citi

Citi analyst Tyler Radke raised the firm’s price target on Microsoft to $282 from $280 and keeps a Buy rating on the shares. The company’s "relatively solid" fiscal Q2 results, with upside to Azure and Office 365 and good spending discipline, was offset by weakening demand commentary and a Q4 guide below consensus, the analyst tells investors in a research note. However, Citi views the guidance as conservative, particularly across Azure, and sees it as a likely in an attempt to de-risk fiscal 2023 numbers. The firm continues to see Microsoft as among the best positioned large-cap software names.