Stifel Raises Microsoft Price Target to $530
Stifel analyst Brad Reback raised the price target on Microsoft (NASDAQ: MSFT) to $530 (from $450) while maintaining a Hold rating.
“Earlier this week we hosted investors for a series of meetings at Microsoft that including time with Bill Duff, CVP & CFO Commercial, Mat McBride, EVP & CFO Commercial Products & Infrastructure as well as IR.
Consistent with the company’s most recent earnings call/public events, commentary centered around the accelerating M365 Copilot momentum as customer proof-of-concept work transitions into full scale deployments, MSFT’s commitment to model-choice to help ensure optimal financial returns, the emerging seat+consumption monetization model (outcome based pricing unlikely in the near-term) and protecting customer’s business IP.
Additionally, management stressed it remains focused on delivering acceptable returns on its ramping capex investments and is focused on driving data center efficiencies to unlock incremental capacity that can be quickly monetized.
On the pricing front, in order to remain competitive, we expect management to be opportunistic primarily in those parts of the product-portfolio where it has a unique offering.”
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