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TD Cowen lifts Microsoft target as it looks for 2Q beat and raise momentum

Published 01/19/2024, 10:35 AM
Updated 01/19/2024, 10:37 AM
TD Cowen lifts Microsoft (MSFT) target as it looks for 2Q beat and raise momentum
MSFT
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The price target for Microsoft (NASDAQ:MSFT) was raised to $425 from $390 per share in a note from TD Cowen on Friday, with analysts maintaining an Outperform rating on the stock.

In their 2Q preview memo, analysts said the firm is looking for beat and raise momentum from Microsoft, while they also see upside drivers to Azure.

Microsoft will report its second-quarter (December quarter) results on January 30.

"We expect Azure above high-end of guide, w/ encouraging Cloud data points incl. 3rd party data & field checks showing stronger new bookings trends & growing AI tailwinds," analysts said.

"We expect continued beat & raise momentum, especially w/ more favorable FX. 2H24 setup is attractive w/ firmer demand, stable PC env't, building AI catalysts & easing comps," they added.

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