Wells Fargo Sees ‘Bright Future Ahead’ for Microsoft

A Microsoft logo adorns a building in Chevy Chase, Md., on May 19, 2021. (Eva Hambach/AFP via Getty Images)

Wells Fargo聽analyst Micahel Turrin聽initiated coverage聽of聽Microsoft Corp. with an Overweight rating and a $400 price target, implying a 15 percent upside.

Even after becoming one of the largest companies on the planet, Microsoft still has a “bright future ahead.”

company has continued growth opportunities in “huge categories” of IT spend, the ability further to monetize its strong positioning in multiple end markets, and a financial profile that continues to exhibit stable growth and margin expansion.

He likes the growth of Azure, Microsoft’s “productivity ubiquity,” and its “impressive” margin profile.

Price Action

Microsoft shares closed lower by 0.96 percent at $339.83 on Monday.

By Anusuya Lahiri

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Pezou : Wells Fargo Sees ‘Bright Future Ahead’ for Microsoft