Citi Opens ‘Positive Catalyst Watch’ on Microsoft, Keeps $605 PT

Jun 11, 2025· 1 min read· Reproduced verbatim
Rating
Buy
Price target
$605
Previous
Implied upside
+28%

Citi analyst Tyler Radke reiterated on June 11, 2025, a ‘Buy’ rating and $605 price target on Microsoft.


“We open a positive catalyst watch on MSFT with our view that Street Azure estimates are too low for FY26.

This is supported by exit rate math and capex ROI analysis which supports Azure growth in the mid-to-high 30s% and recent read-throughs and positive checks.

We believe the catalyst will be F’4Q25 earnings when FY26 guidance is announced and beyond as both Microsoft and OpenAI AI revenue continues to ramp.”

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