Microsoft price target raised to $348 from $290 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on Microsoft to $348 from $290 and keeps an Overweight rating on the shares. The "Darkest Before the Dawn" moment for Microsoft "turned out to be not that dark at all," as evidenced by its $1.8B top-line beat and 10% year-over-year earnings growth, the analyst tells investors. The resiliency of growth, along with "astounding Gen AI adoption metrics," strengthens the bull case to own Microsoft as a core growth asset, Piper contends.