Microsoft price target raised to $350 from $325 at Jefferies

Jefferies analyst Brent Thill raised the firm’s price target on Microsoft to $350 from $325 and keeps a Buy rating on the shares. The fiscal Q3 results for Azure results were "much better than feared" at 31% year-over-year constant currency growth with "an even more impressive" Q4 26%-27% year-over-year growth guide, the analyst tells investors in a research note. The firm says that while there remains a lot of excitement around Microsoft shares and artificial intelligence, pricing tailwinds "have yet to be broadly rolled out." It believes these should help sustain "multiple years of growth."