Microsoft $MSFT added to Q4 'Tactical Ideas list' at Wells Fargo
Wells Fargo analyst Michael Turrin raised the firm's price target on Microsoft to $725 from $700 and keeps an Overweight rating on the shares.
Microsoft shares offer a "favorable tactical setup" into Q4 given a "number of key catalysts," including the realization of its AI advantage, Ignite conference in November, and new segment reporting, the analyst tells investors in a research note.
Wells believes momentum is "shifting back to" Microsoft in the mega cap technology space as the company "delivers on AI monetization story alongside balanced investment approach."
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