Microsoft Represents Solid Reacceleration Story in 2024 - Bank of America Analyst Raises Forecast
Portfolio Pulse from Anusuya Lahiri
Bank of America Securities analyst Brad Sills reiterated a Buy rating on Microsoft Corp (NASDAQ:MSFT) and raised the price target from $430 to $450, citing a solid reacceleration story in 2024. Sills expects a 1% constant currency upside to Q2 revenue estimates, driven by Azure and M365 strength, despite weaker PC shipments. He anticipates currency to provide a 2% tailwind to growth and foresees a $450 million upside in PBP segment revenue. Additionally, accelerating ASP growth from M365 Copilot is expected to drive Office growth. Exane BNP Paribas analyst Stefan Slowinski upgraded Microsoft from Neutral to Outperform with a $471 price target. MSFT shares were up by 0.89% at $392.96.
January 18, 2024 | 8:08 pm
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Bank of America analyst Brad Sills maintains a Buy rating on Microsoft and raises the price target to $450, expecting revenue growth, particularly from Azure and M365. Exane BNP Paribas analyst Stefan Slowinski upgrades the stock to Outperform with a $471 price target.
The positive outlook from analysts, including raised price targets and upgrades, suggests a strong potential for stock appreciation. The specific mention of revenue growth drivers like Azure and M365, along with the upgrades, are likely to instill investor confidence and could lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100