RBC Capital Reiterates Outperform on Microsoft, $640 PT
RBC Capital analyst Rishi Jaluria reiterated an Outperform rating and $640 price target on Microsoft (NASDAQ: MSFT).
“Segment Refresh Brings Azure to Forefront; We update our model to reflect Microsoft’s new reporting structure, which we view as an improvement in visibility into the core drivers of the business.
Azure now stands alone with 44–45% constant currency growth guidance, indicating sustained momentum, while commercial and consumer cloud businesses are brought together under Microsoft 365 Cloud.
We slightly adjust our estimates to quantify notable newly incorporated segments, and reiterate our Outperform rating with a $640 price target.”
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