BofA raised the firm’s price target on Microsoft (MSFT) to $515 from $480 and keeps a Buy rating on the shares. After Microsoft reported a “strong” set of Q3 results and outlook, led by Azure, which was “an outsized source of upside in the quarter” with 35% constant currency growth that was well above the outlook for 31.5% at the midpoint. In addition, OpenAI drove a “solid” 16% points of Azure growth, up from 13% in Q2, which “should allay concerns that the partnership has frayed a bit,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSFT:
- Gold Price and Miners Look Less Shiny as Global Trade Tensions Begin to Ease
- Microsoft price target raised to $515 from $500 at Wells Fargo
- Can Nvidia Keep Soaring on Microsoft and Meta’s AI Boom?
- Microsoft price target raised to $550 from $475 at Jefferies
- Microsoft price target raised to $475 from $465 at JPMorgan