KeyBanc Microsoft · MSFT

Keybanc Reiterates Microsoft’s $630 Price Target

1 min read Reproduced verbatim
Rating
Overweight
Unchanged
Target
$630
Unchanged
Upside
+19%
MSFT at $531 today
KeyBanc and Microsoft logos

What the analyst said

KeyBanc analyst Jackson Ader reiterated on November 20, 2025, an ‘Overweight’ rating and $630 price target on Microsoft.

“Today we attended the opening day of Microsoft Ignite in San Francisco.

We felt that there were two major product and packaging announcements of note, highlighted below, but the headline of the day was usurped by the announcement early this morning that Microsoft would be investing up to $5B in Anthropic in conjunction with (in exchange for?) a $30B commitment to Azure spend by Anthropic.

As for the keynote, Security Copilot and Agent 365’s announcements had the biggest impact, to us.

We’re teaming up with Eric as well to highlight additional security and data news, which you can find below.News of the Day: Anthropic, Agent Orchestration and Security Copilot coming to E5 If we distill today’s announcements down to three, we’d say the Anthropic announcement, the agentic orchestration announcements with Agent 365, and the power of the bundle coming to Security Copilot were the most meaningful.

There were plenty of other announcements on the security side that were meaningful as well that we highlight along with our security software colleague Eric Heath, which you can jump to if you’re so inclined.”

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Where the price stands

MSFT trades at $531. The 28 analysts who set a target in the last 3 months range from $515 to $750, with a median of $630. This $630 target is in line with the median.

Since the note MSFT has moved +9% (from $487). 12-month window: day 352 of 365, closes on November 20, 2026.

Track record

This callOpen: MSFT has not reached $630 yet. This 12-month target is scored on November 20, 2026.

Firm track recordKeyBanc: 79% of its 24 targets at least a year old were reached within 12 months (#13 of 26 firms). Accuracy ranking →

KeyBanc on Microsoft

KeyBanc price targets on Microsoft

5 calls from April 17, 2025 to October 29, 2026. The target is back at $630, after moving between $600 and $630. The rating moved from Hold to Buy.

KeyBanc targetMSFT share price
  1. October 29, 2026Target raised from $600 (+5%)Buy$630
  2. May 5, 2026Target cut from $630 (−5%)Buy$600
  3. November 20, 2025 This noteKept the $630 targetBuy$630
  4. July 31, 2025Upgraded to Buy, set a $630 targetBuy$630
  5. April 17, 2025Earliest call shownHoldNo target
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Other analysts on Microsoft

BairdBuy Raised price target +20%, kept rating Oct 30 $600from $500 ArgusBuy Kept rating Oct 30 UBSBuy Raised price target +4%, kept rating Oct 29 $700from $675 TD CowenBuy Raised price target +4%, kept rating Oct 29 $650from $625 CantorBuy Raised price target +4%, kept rating Oct 29 $630from $608
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.