Citizens Reiterates Market Outperform on Microsoft, $550 Price Target

Citizens analyst Patrick Walravens reiterated a Market Outperform rating and $550.00 price target on Microsoft (NASDAQ: MSFT).

“We maintain our Market Outperform rating and $550 price target on Microsoft after attending Microsoft Build on June 2 at Fort Mason, after speaking to 10 customers regarding their spending on Microsoft, and after the stock has fallen 10% YTD versus an increase of 10% for the S&P 500 and an increase of 10% for the Russell 3000.

Some of our key takeaways include: 1) our spending checks were overwhelmingly positive, with 90% of customers we spoke to saying their spend on Microsoft would be up over the next 12-18 months, with the primary theme being increased spend on Azure; and 2) at the keynote, CEO Satya Nadella outlined Microsoft’s evolution to a platform optimized for Agentic AI.”

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