Wells Fargo raised the firm’s price target on Microsoft (MSFT) to $700 from $675 and keeps an Overweight rating on the shares following quarterly results. While perhaps delayed gratification, the firm believes another material capex raise plus another RPO/bookings spike show real signal that demand is accelerating, underscoring the company’s durable growth and series of favorable long-term tailwinds still ahead.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSFT:
- OpenAI laying groundwork for IPO at up to $1T valuation, Reuters reports
- OpenAI restructuring has ‘no impact’ on other cases, The Information reports
- Manhattan Associates appoints Greg Betz as COO
- OpenAI Eyes $1 Trillion Valuation IPO to Fund Ambitious AGI Plans
- Microsoft’s Strong Cloud and AI Performance Boosts Earnings