Microsoft price target raised to $650 from $550 at BMO Capital

BMO Capital raised the firm’s price target on Microsoft (MSFT) to $650 from $550 and keeps an Outperform rating on the shares. The company delivered an impressive quarter across the board, led by Azure’s 39% y/y constant-currency growth, the analyst tells investors in a research note. Given Microsoft’s breadth of portfolio, including AI offerings and solid margin performance, the firm prefer the stock to other large cap software names, BMO added.