© Reuters.
Mizuho analysts reiterated a Buy rating on Microsoft (NASDAQ:) shares and hiked the price target to $340 per share after attending Day 1 of the Microsoft Build conference.
Analysts said the event was “AI-heavy,” which was expected. They also highlighted announcements regarding Copilot plugins/extensibility, Azure AI Studio, and Microsoft Fabric.
Overall, the event showed that Microsoft is “significantly ramping its AI focus,” analysts wrote in a client note.
“We’re encouraged by MSFT’s strong ongoing innovation, and more broadly, we remain confident that MSFT’s growth opportunities over the medium-term and beyond are greater than many realize, including significant Generative AI monetization.”
The new price target implies an upside potential of about 8%.
Shares closed at $315.26 on Wednesday, down 1.8% on the day.
