Citi analyst Tyler Radke reiterated a Buy rating and $520.00 price target on Microsoft (NASDAQ: MSFT).

The analyst commented, "We remain constructive on MSFT heading into Q4 results, expecting a healthy top/bottom-line beat and strong Azure/capex spending to underscore’s MSFT AI leadership position in the sector. With the solid run in shares (+11% post last print), and our view of modest (vs. outsized) EPS estimate revisions, especially with consensus potentially under-modeling losses from OpenAI, we don’t see Q4 as a significant catalyst. Nonetheless we continue to see the MSFT growth story well intact and expect broadening AI momentum in FY25 to continue to drive accelerating top/bottom line growth, in the years ahead. TP unchanged at $520."

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Shares of Microsoft closed at $449.52 yesterday.