Microsoft price target raised to $480 from $450 at Raymond James

Raymond James analyst Andrew Marok raised the firm’s price target on Microsoft to $480 from $450 and keeps an Outperform rating on the shares. Microsoft reported solid Q3 results, with Azure growth accelerating to 31% year over year, surpassing estimates, as Azure continued to benefit from AI demand, which contributed to 7% of growth in the quarter, the analyst tells investors in a research note. The firm continues to envision Microsoft as a leading beneficiary of GenAI, and expects its investment strategy to continue to pave the way for further share expansion across multiple business.