BofA Lifts Microsoft Price Target as AI Capex Drives Azure Growth
On Sept. 1, BofA Securities raised Microsoft’s stock price target to $600 from $500 and kept a Buy rating, saying AI and cloud spending is translating into stronger growth. Microsoft spent nearly $116B in capex in its fiscal year ended June 30, and Azure surpassed $100B in annual revenue for the first time, with growth guidance rising to 45% for the next quarter.