Microsoft price target raised to $637 from $540 at Bernstein

Bernstein analyst Mark Moerdler raised the firm’s price target on Microsoft (MSFT) to $637 from $540 and keeps an Outperform rating on the shares. The firm says that “while we were wondering how Microsoft was going to beat their strong Q3, management showed us today.” Microsoft delivered not just a stellar Q4 but strong guidance for Q1 and commentary on FY26. For Azure, Microsoft delivered far stronger growth compared to consensus, its estimate or the buy side “whisper number” which Bernstein believes was a bit higher than its at 36%.