2024-04-02 04:20:00 ET
Share prices of Microsoft (NASDAQ: MSFT) jumped 47% over the last 12 months. Even with all that growth, at least one analyst sees more upside.
Jefferies analyst Brent Thill recently issued an updated report that maintained a buy rating on the shares but raised the price target from $465 to $550. That represents an upside of nearly 30% over the next 12 months or so given the current stock price.
The analyst expects Microsoft to capitalize on interest in generative artificial intelligence (AI) . Microsoft is one of the leading cloud providers, second only to Amazon , positioning it to benefit from growing spending on AI in the enterprise space.
For further details see:
Microsoft Stock Has 30% Upside, According to 1 Wall Street Analyst