Wedbush reaffirms its 'outperform' opinion on Microsoft and raises its price target from $475 to $500 on the US IT giant's stock, which is still on its 'best ideas list'.

This target upgrade reflects 'slightly more positive recent assessments of AI customers, with 'transformative' Copilot monetization on Microsoft's doorstep and beginning to manifest across many customers and verticals'.

Wedbush sees this strongly as Microsoft's "iPhone moment" "with AI poised to change the cloud growth trajectory for the Redmond group in the very next few years", its recent valuations reinforcing its confidence in this dynamic.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.