KeyBanc Microsoft · MSFT

KeyBanc Downgrades Microsoft to Sector Weight

Analyst: Jackson Ader 1 min read Reproduced verbatim
Rating
Sector Weight
from Overweight
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What the analyst said

KeyBanc analyst Jackson Ader downgraded Microsoft (NASDAQ: MSFT) from Overweight to Sector Weight.

“We are downgrading MSFT to SW from OW and removing our price target on the heels of increased scrutiny on the timing of AI demand and monetization as we continue to see large capex expectations with limited one-year out flexibility that may put pressure on margins in the short term and over index stock performance to the Azure business in a potentially worsening macro backdrop.”

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Track record

Firm track recordKeyBanc: 80% of its 10 targets at least a year old were reached within 12 months. Accuracy ranking →

KeyBanc on Microsoft

KeyBanc price targets on Microsoft

4 calls from April 17, 2025 to May 5, 2026. The target went from $630 to $600 (−5%). The rating moved from Hold to Buy.

KeyBanc targetMSFT share price
  1. May 5, 2026Target cut from $630 (−5%)Buy$600
  2. November 20, 2025Kept the $630 targetBuy$630
  3. July 31, 2025Upgraded to Buy, set a $630 targetBuy$630
  4. April 17, 2025 This noteEarliest call shownHoldNo target
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Other analysts on Microsoft

Raymond JamesBuy Raised price target +17%, kept rating Oct 27 $630from $540 ScotiabankBuy Raised price target +2%, kept rating Oct 26 $625from $615 TruistBuy Raised price target +4%, kept rating Oct 26 $600from $575 OppenheimerBuy Raised price target +10%, kept rating Oct 26 $625from $570 GuggenheimBuy Kept rating and price target Oct 21 $586maintained
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