Piper Sandler analyst Brent Bracelin raised the firm’s price target on Microsoft (MSFT) to $650 from $600 and keeps an Overweight rating on the shares following quarterly results. The firm notes Azure remains “un rock star” with growth accelerating to 39% year-over-year cc at $80B+ annualized run-rate scale driven by broad-based demand. Piper says the firm’s price target moves up on higher estimates, factoring in increasing confidence in growth and profit potential for Microsoft based on a first mover advantage in AI infrastructure.
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