Cantor Fitzgerald Raises Microsoft Price Target to $608
Cantor Fitzgerald analyst Thomas Blakey raised the price target on Microsoft (NASDAQ: MSFT) to $608.00 (from $522.00) while maintaining an Overweight rating.
“We adjust our PT on MSFT shares from $522 to $608, driven by accelerating growth and strong, and in some cases accelerating, fundamentals supporting the sustainability of the recent acceleration.
We highlight that this acceleration is coming with an unchanged capex guide on the most recent quarterly call and further note that the C26 $175B in capex (adj. for extended useful life of capital leases) includes ~$25B of capex related to component shortages (13% of unadjusted $190B in C26 capex guide, 14% of new, adj. capex guide for longer useful life of capital leases).
Our new PT represents 10.5x C27 revenue, in-line with its three-year median multiple and 27.5x P/E, which is below the three-year median 30x (28x average).”
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