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.”
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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.
