Microsoft price target raised to $650 from $550 at Stifel

Stifel raised the firm’s price target on Microsoft (MSFT) to $650 from $550 and keeps a Buy rating on the shares. Microsoft “beat across the board,” with 39% Azure growth more than 400 basis points above expectations and strong efficiencies driving profitability, the analyst tells investors. Management is once again guiding to double-digit full year revenue growth, adds the analyst, who is modeling mid-teens growth overall and Azure growth “in the upper-30s.”