Microsoft price target raised to $500 from $475 at Stifel

Stifel analyst Brad Reback raised the firm’s price target on Microsoft (MSFT) to $500 from $475 and keeps a Buy rating on the shares. Microsoft “returned to form” after a few rocky quarters, posting a strong print across the board, the analyst tells investors. Most importantly, Azure growth was 300 basis points above the high end of guidance, driven by enterprise strength in the non-AI business as well as “robust AI contribution,” the analyst added. With Azure growth back-on-track, expenses clearly under control and management’s well-informed capex plans, Stifel expects investors to begin to “return to the name.”