Stifel Microsoft · MSFT

Stifel Reiterates Hold on Microsoft Amid Chevron Deal, $415 Price Target

1 min read Reproduced verbatim
Rating
Hold
Unchanged
Target
$415
Unchanged
Outcome
Reached
on April 30, 2026
Stifel and Microsoft logos

What the analyst said

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.

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

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.

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 $415 target is 34% below the median, the lowest on the Street.

Since the note MSFT has moved +44% (from $367). 12-month window: day 138 of 365, closes on June 23, 2027.

Track record

This call✓ Target reached on April 30, 2026, 0 days after the note. Same target as this firm’s April 30, 2026 note, so it is scored there.

Firm track recordStifel: 83% of its 42 targets at least a year old were reached within 12 months (#6 of 26 firms); on Microsoft, 1 of 2. Accuracy ranking →

Stifel on Microsoft

Stifel price targets on Microsoft

8 calls from May 1, 2025 to September 4, 2026. The target went from $500 to $530 (+6%). The rating moved from Buy to Hold.

Stifel targetMSFT share price
  1. September 4, 2026Target raised from $450 (+18%)Hold$530
  2. July 30, 2026Target raised from $400 (+13%)Hold$450
  3. June 24, 2026Target cut from $415 (−4%)Hold$400
  4. June 23, 2026 This noteKept the $415 targetHold$415
  5. May 6, 2026Kept the $415 targetHold$415
  6. April 30, 2026Downgraded to Hold, target cut from $640 (−35%)Hold$415
  7. October 30, 2025Target raised from $500 (+28%)Buy$640
  8. May 1, 2025Earliest call shownBuy$500
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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.