Microsoft (MSFT) PT Raised to $500 at Mizuho

Mizuho analyst Gregg Moskowitz raised the price target on Microsoft (NASDAQ: MSFT) to $500.00 (from $475.00) while maintaining a Outperform rating.

The analyst comments: "MSFT reported a much better than expected F3Q, as total revenue of $70.1B (+15% Y/Y CC) was well above the Street’s $68.2B estimate. Most notably, Azure revenue grew by a robust 35% Y/Y CC, significantly exceeding mgmt's guidance of 31%-32% Y/Y CC, and reflecting a strong reacceleration in growth. Despite the challenging macro backdrop, mgmt is also targeting Azure revenue growth of 34-35% Y/Y CC in F4Q, materially above the Street's roughly 31.5% projection and even further above our and buy-side expectations. We are both surprised and impressed by MSFT's strong results and guidance. More broadly, we remain confident that MSFT's revenue growth opportunities over the medium-term and beyond are greater than many realize, and we continue to be very bullish on its tangible GenAI adoption and monetization levers."

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