Microsoft Stock Has Further Room To Run, Says Analyst, As Software Giant Remains On Track To Hit $200B Cloud Revenue In 2 Years
Microsoft Corp. (NASDAQ:MSFT) shares received a nice price target bump a week ahead of the software giant’s quarterly earnings release. The Microsoft Analyst: Piper Sandler analyst Brent Bracelin reiterated an Overweight rating on Microsoft shares and upped the price target from $465 to $485. The updated price target suggests the stock has about 10% upside potential. The critical data center investments should, therefore, be compressed to support a potential doubling of Microsoft Cloud revenue to $200 billion+ exiting fiscal year 2026, he said. Microsoft Price Action: Microsoft shares ended Monday’s session up 1.33% to $442.94, according to Benzinga Pro data.
Source: Washington Post July 23, 2024 07:26 UTC
