Wells Fargo Reiterates Overweight Rating on Microsoft (MSFT)
Wells Fargo analyst Michael Turrin reiterated an Overweight rating and $500.00 price target on Microsoft (NASDAQ: MSFT)
The analyst comments "GitHub creating AI ecosystem; new features announced: Fitting for its annual dev event, MSFT announced GitHub Copilot is the most widely adopted AI developer tool w/ 1.8M paid subs (consistent w/ disclosure on earnings call). GitHub also announced its first set of 'Copilot Extensions' aimed at creating an ecosystem of dev partners available within GitHub Copilot Chat—Sentry, Docker, Pinecone, etc. MSFT is also partnering w/ CognitionAI & its autonomous dev agent, Devin (now powered by Azure)."
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Shares of Microsoft closed at $429.04 yesterday.