BMO Capital Microsoft · MSFT

BMO Capital Raises Microsoft Price Target to $600

October 20, 2026 Analyst: Keith Bachman 1 min read Reproduced verbatim
Rating
Buy
Target
$600
from $515 (+17%)
Upside
+15%
MSFT at $521 today
BMO Capital and Microsoft logos

What the analyst said

BMO Capital analyst Keith Bachman raised the price target on Microsoft (NASDAQ: MSFT) to $600 (from $515) while maintaining an Outperform rating.

“We think there is upside tension to our 1QFY27 Azure revenue estimates given positive cloud check feedback, and we think Azure revenue can accelerate in 2QFY27 vs 1QFY27 as well.

In M365, we believe Microsoft is transitioning to more of a consumption model, which can help ARPU and mix as seat growth moderates.

We think our FY27 M365 estimate is reasonable based on our seat vs ARPU analysis.

Net, given confidence in Azure and margin discipline, we raise our target price from $515 to $600 and remain Outperform.”

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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.

Where the price stands

MSFT trades at $521. The 28 analysts who set a target in the last 3 months range from $515 to $700, with a median of $600. This $600 target is in line with the median.

Since the note MSFT has moved −2% (from $534). 12-month window: day 2 of 365, closes on October 20, 2027.

Track record

This callOpen: MSFT has not reached $600 yet. This 12-month target is scored on October 20, 2027.

Firm track recordToo early to score BMO Capital: price targets are 12-month calls and fewer than 3 of its targets are a year old. 5 of its 17 open targets have already been reached. How we score

BMO Capital on Microsoft

BMO Capital price targets on Microsoft

3 calls from July 7, 2026 to October 20, 2026. The target went from $515 to $600 (+17%). The rating stayed Buy.

BMO Capital targetMSFT share price
  1. October 20, 2026 This noteTarget raised from $515 (+17%)Buy$600
  2. July 30, 2026Kept the $515 targetBuy$515
  3. July 7, 2026Earliest call shownBuy$515
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Other analysts on Microsoft

GuggenheimBuy Kept rating and price target · Oct 21 $586maintained Piper SandlerBuy Kept rating and price target · Oct 20 $610maintained BernsteinBuy Raised price target +1%, kept rating · Oct 19 $662from $660 StoneXBuy Raised price target +33%, kept rating · Oct 16 $600from $450 UBSBuy Raised price target +29%, kept rating · Oct 15 $675from $525
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.