Microsoft Stock Sets Another Record as Analysts Grow Even More Bullish
Key Takeaways
- Microsoft stock set a fresh all-time high intraday Wednesday and is on pace to close at a record high for the 12th time this month.
- Wells Fargo and Wedbush raised their price targets on the stock given Microsoft’s strength in AI monetization.
- All 19 brokers tracked by Visible Alpha have a “buy” or equivalent rating for Microsoft stock.
Wall Street is growing even more bullish on Microsoft (MSFT), whose shares set another all-time high Wednesday.
In a note to clients Tuesday, Wells Fargo raised its price target to $585 from $565, representing a 19% premium over Microsoft’s closing level yesterday of $490.11.
Microsoft shares hit a record intraday level of $494.56 Wednesday and recently were trading around $491. If it holds, it would mark the tech titan’s 12th record close in 17 June trading sessions.
“We acknowledge shares are trading near historical highs, but think this is justified given its early AI lead and strong incumbent position in a tight market,” Wells Fargo said, adding, “We still see a bright future ahead for Microsoft.”
Wedbush was even more bullish Wednesday, raising its price target to $600 from $515. Microsoft has “a massive adoption wave of Copilot and Azure monetization now on the doorstep” as enterprise clients deploy AI tools, analysts wrote.
Wells Fargo and Wedbush are more bullish than average, but they’re far from alone. All 19 brokers tracked by Visible Alpha have a “buy” or equivalent rating for Microsoft stock, with a mean price target of about $532.