Microsoft stock gets a new Street-high price target as Citi hikes on GenAI tailwinds
Microsoft (MSFT) stock gets a new Street-high price target as Citi hikes on GenAI tailwinds
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Citi analysts raised the price target on Microsoft (NASDAQ:MSFT) shares to $425 per share, which is the highest among Wall Street analysts covering the Redmond-based giant.
The analysts are “positive” on Microsoft into the FQ4 earnings report due on July 25.
“Our proprietary reseller survey showing improving target achievement levels and an expected acceleration in growth into FY24. Though still acknowledging some areas of macro caution, we see a positive set-up into Q4,” they said in a note.
The new price target reflects “improving channel partner inputs and GenAI tailwinds.” As a result, the FY24-26 estimates are raised and easily above consensus.
“We reiterate our Buy rating with MSFT offering a unique earnings growth acceleration and GenAI monetization story in mega-cap software,” the analysts concluded.
