Morgan Stanley says the firm’s most recent CIO survey points to stable IT spending and suggests "favorable Microsoft-specific fundamentals." The firm sees several forward looking indicators in the CIO survey that support Microsoft’s "strong relative positioning" if 2023 budgets come under further pressure, noting that Microsoft widened its substantial lead in expected IT wallet share gains. The firm, which calls Microsoft "increasingly well positioned" based on its survey work, has an Overweight rating and $307 price target on the shares.
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