Piper Sandler raised the firm’s price target on Microsoft to $465 from $455 and keeps an Overweight rating on the shares. The firm cites strong AI and cloud secular tailwinds that contributed to accelerating Azure revenue growth of 31% for the price target raise. Accelerating growth coupled with the leadership commitment to sustaining a 43%+ operating margin next year during a peak capex investment cycle reaffirms Piper’s bullish stance on Microsoft, the analyst tells investors in a research note.
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