BMO Capital Markets increased Microsoft's price target to $500 due to robust growth in Azure.
BMO Capital Markets raised Microsoft's (NASDAQ: MSFT) price target to $500 from $465, citing robust growth in Microsoft Azure. The analysts expect a 31% year-over-year growth in Azure's revenue in constant currency. The optimistic outlook is shared by other analysts, including Argus, which increased its price target for Microsoft to $526, recognizing strategic investments in generative AI and its cloud segment as core drivers of future growth.
July 15, 2024
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