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<Research> Citi Cuts Microsoft (MSFT.US) TP to USD600, Reiterates Buy
Recommend 2 Positive 2 Negative 5 |
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Citi said in a research report that it is more optimistic about Microsoft (MSFT.US)'s outlook ahead of its third fiscal quarter results, mainly driven by positive feedback from reseller surveys, artificial intelligence summits, the Fabric conference and non-deal roadshows during the quarter. Citi noted that current investor expectations and market sentiment are relatively subdued, while Azure and O365 growth face short-term constraints. However, it believes fundamentals are improving and growth should accelerate throughout fiscal 2027. In response to strong demand signals, Citi raised its capital expenditure forecasts and lowered its O365 growth forecasts for the fourth quarter and first quarter to reflect accounting revenue overlap, but expects growth to accelerate in fiscal 2027. Microsoft remains Citis top pick among mega-cap stocks. The broker reiterated its Buy rating, but cut its TP from USD635 to USD600. (hc/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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