Stifel Reiterates Hold on Microsoft Amid Chevron Deal, $415 PT
Stifel analyst Brad Reback reiterated a Hold rating and $415.00 price target on Microsoft (NASDAQ: MSFT).
“Earlier today, Microsoft announced a 20-year power agreement with Chevron, Project Kilby, that remains in the pre-construction phase, and will stay that way until the Final Investment Decision (FID) is reached sometime around year-end 2026.
As of now, the plan remains constrained to planning, environmental review, and permitting, with Chevron reportedly reserving manufacturing slots for major turbine equipment well in advance (according to a company press release in January 2025).
Looking ahead, Project Kilby is expected to provide first power delivery in 2028; however, in our view, this should be perceived as the EARLIEST, and may take even longer, depending on the regulatory environment and real economic value added.”
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
