Shares of Microsoft Corporation (NASDAQ: MSFT) surges more than 3% on Thursday as the two prominent financial firms, Mizuho and JP Morgan, have increased their price targets for the tech giant.
JP Morgan’s analyst, Mark Murphy, has reiterated Microsoft’s rating as Overweight and raised the price target from $315 to $350. This upward revision indicates strong confidence in the company’s performance and growth potential.
Likewise, Mizuho’s analyst, Gregg Moskowitz, has maintained Microsoft’s rating as Buy and raised the price target from $340 to an even higher $360.
Mizuho expressed heightened conviction in Microsoft’s ability to capitalize on generative AI. In addition, JPMorgan highlighted an accelerated trajectory towards achieving $10 billion in revenue from Microsoft’s AI business.
As of the time of publication, Microsoft’s shares (MSFT) have surged by an impressive 3.26%, reaching $348.33.