Microsoft Stock Still Has Upside After Its Recent Surge, According to 1 Wall Street Analyst. Is the Stock a Buy Near Its All-Time High?
There's little question that (NASDAQ: MSFT) has benefited from its early focus on the shift to artificial intelligence (AI). The company was quick to adopt and integrate generative AI tools across a broad cross-section of its products and services, which has fueled a robust rally, pushing the stock up 58% over the past year.
One Wall Street investment bank believes there's more upside to come.
KeyBanc's Jackson Ader initiated coverage of Microsoft, assigning the stock an overweight (buy) rating and $490 price target. That suggests potential upside for investors of 15% given the stock's closing price of $429.37 on Mar. 21. The analyst wrote that Microsoft "sits in the catbird seat in two of the three main ways software vendors can monetize the AI wave."
Source Fool.com