Oppenheimer Raises Microsoft Price Target to $570
Oppenheimer analyst Brian Schwartz raised the price target on Microsoft (NASDAQ: MSFT) to $570 (from $515) while maintaining a Outperform rating.
“We reiterate our Outperform rating on Microsoft and raise our PT to $570 from $515 after a recent headquarters meeting.
We left the meeting comfortable that our acceleration with capital discipline thesis for MSFT remains intact.
In our view, Azure and M365 commercial can sustain business acceleration in FY27 as Copilot monetization remains strong, more compute capacity comes online, and as customers increasingly standardize on Microsoft as the primary enterprise AI platform.
Further, efficiency gains and capital discipline are key focuses and yielding more predictable capex and positive FCF this year, unlike some hyperscaler peers.
On balance, there is multiple risk that AI disruption and pull-forward of some 2HCY26 enterprise IT spending moderates Azure and M365 commercial revenue growth heading into CY27, compresses cloud margin, and/or capex efficiency decreases.”
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