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Microsoft’s Rating Maintained at Buy Following Microsoft Build Event
May 28, 2024 3:45 PM - Davit Kirakosyan
Image credit: FMP
Citi analysts reiterated their Buy rating and a $495 price target for Microsoft (NASDAQ:MSFT) stock following their attendance at the Microsoft Build event. The analysts said they left with a positive impression of the innovations and partnerships presented, although they did not see any immediate revenue accelerators.
The event featured over 60 announcements, primarily focusing on key Copilot updates and data integrations across Microsoft's hardware, infrastructure, and application offerings. The main device-related announcement, Copilot+PCs, highlighted Microsoft's diversifying strategy and potential as a catalyst for new use cases and a future refresh cycle.
The analysts remain confident in Microsoft's leading position in Generative AI, which they believe can drive unique monetization opportunities and potentially accelerate market share gains in cloud infrastructure and PCs.
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