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TD Cowen Sees Microsoft (MSFT) Shares Range-Bound Ahead of Earnings
Microsoft Corporation (NASDAQ:MSFT) is one of the AI Stocks on Market Radar. On January 20, TD Cowen lowered its price target on the stock to $625 from $655 and maintained a Buy rating. The price target cut comes ahead of Microsoft’s Q2 results, with the firm flagging capacity constraints as a limiting factor for growth acceleration.
The firm previewed its results, stating that checks suggest demand for GPU and CPU infrastructure is stable or strengthening. It anticipates about 2 points of upside to their 37% cc Azure estimates.
TD Cowen also suspects that a lack of growth acceleration, primarily stemming from capacity constraints, will keep shares range-bound in the near-term. However, it remains constructive for the company’s position to serve AI workloads.
Microsoft Stock To $350?
Microsoft stock has declined by 5% this week due to two converging factors. First, analysts are lowering price targets ahead of earnings reports, and second, investors are becoming hesitant about AI spending. The immediate reason for this change is evident—Wall Street is adjusting its expectations. However, the more profound concern is whether Microsoft’s substantial investments in AI infrastructure will yield returns in the near future.
To put it plainly: mediocre. A 3% return over the last twelve months compared to 14% for the S&P 500 constitutes significant underperformance for a major tech leader. While this isn’t disastrous, for a stock that usually trades at a premium, trailing the market by 11 percentage points indicates a shift in investor sentiment.
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Microsoft (NASDAQ:MSFT) Trading Down 2.3% After Analyst Downgrade
Microsoft Corporation (NASDAQ:MSFT – Get Free Report) shares fell 2.3% during mid-day trading on Wednesday after Rothschild & Co Redburn lowered their price target on the stock from $500.00 to $450.00. Rothschild & Co Redburn currently has a neutral rating on the stock. Microsoft traded as low as $438.68 and last traded at $444.11. 37,537,764 shares traded hands during trading, an increase of 45% from the average session volume of 25,956,799 shares. The stock had previously closed at $454.52.
Other analysts also recently issued reports about the stock. Melius Research increased their price target on shares of Microsoft from $595.00 to $625.00 in a research report on Thursday, September 25th. KeyCorp reaffirmed an "overweight" rating on shares of Microsoft in a research report on Thursday, October 30th. Citigroup decreased their price target on shares of Microsoft from $690.00 to $660.00 and set a "buy" rating for the company in a research note on Wednesday. Redburn Partners set a $560.00 price objective on Microsoft in a report on Wednesday, October 22nd. Finally, Mizuho lowered their price target on Microsoft from $640.00 to $620.00 and set an "outperform" rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Microsoft has an average rating of "Buy" and a consensus price target of $624.08.
For more detailed information, explore updates concerning TD Cowen Sees.
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