“Clearly Microsoft’s stock has been on a tear so far in 2023 as we believe investors are starting to slowly appreciate that still less than 50% of the workloads have moved to the cloud and Redmond remains in an enviable position to gain share in its enterprise backyard against AWS in this cloud arms race over the next 12 to 18 months,” Ives wrote in a note to clients. The new target ties Ives with Mizuho’s Gregg Moskowitz as the sixth most bullish of the 49 analysts surveyed by FactSet who cover Microsoft. Ives reiterated the outperform rating he’s had on Microsoft for at least three years, while raising his stock price target by about 9%, to $315 from $290. Rose 0.3% in morning trading, after falling 2.3% on Tuesday to lead the Dow Jones Industrial Average’s For more commenting FAQs, go here.“While the macro is not roses and champagne, we believe Microsoft will emerge out of this period in a stronger position strategically which further adds to the sum-of-the-parts valuation on ,” Ives wrote in a note to clients. You will have to select one of the options to flag a comment. If you see an inappropriate comment, click on the "Flag" link for that comment and select one of the options: "Spam", "Offensive", "Disagree", or "Off-Topic". You can then join in the conversation by posting a new comment.
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