Microsoft (MSFT) PT Raised to $650 at TD Cowen

TD Cowen analyst Derrick Wood raised the price target on Microsoft (NASDAQ: MSFT) to $650.00 (from $625.00) while maintaining a Buy rating.

The analyst commented: "The Spend Is Heavy But Returns Look Heavier; Azure beat by 3pts & posted a recent record high 6pts of acceleration, while 2Q guide was 5pts ahead of Street and calls for a 5-handle. Foundry & OpenAI were key sources of upside. This came in spite of delays in some 3P GPU-as-a-Service capacity deliveries, as GPU efficiency gains helped drive incremental capacity. Strong growth acceleration & margin upside warrant a continued rally in shares."

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