Microsoft price target raised to $475 from $465 at JPMorgan

JPMorgan raised the firm’s price target on Microsoft (MSFT) to $475 from $465 and keeps an Overweight rating on the shares following the fiscal Q3 report. The “lack of any tangible macro stress or strain,” including commentary that demand signals across the commercial business were consistent in April and are expected to remain so moving forward, is likely to surprise investors positively, the analyst tells investors in a research note. The firm says the Q3 Azure constant currency growth came in “comfortably” above guidance and expectations.