Microsoft price target raised to $650 from $625 at Morgan Stanley

Morgan Stanley analyst Keith Weiss raised the firm’s price target on Microsoft (MSFT) to $650 from $625 and keeps an Overweight rating on the shares. Microsoft exceeded consensus across all three business segments, yielding a 3% total revenue beat as fiscal Q1 commercial bookings grew 111% year-over-year, cRPO grew 35% year-over-year and management spoke to accelerating demand trends, the analyst noted. Strong positioning against almost every major secular product theme driving demand in software along with CIOs increasingly consolidating spend with fewer vendors have placed Microsoft “in the all the right places at the right time,” the analyst tells investors.