- Mizuho analyst Gregg Moskowitz lowered the firm's price target on Microsoft Corp MSFT to $350 from $360 and reiterated a Buy rating on the shares. The price target implies an upside of 12.8%.
- Rising yields and more significant inflation concerns have significantly weighed on software stocks over the last month, Broome notes.
- The analyst lowered price targets for most companies to reflect the rising rate environment. However, his basic channel checks have "continued to be very positive."
- Broome adds that the software sector's risk/reward has turned favorable, and investors will likely be rewarded over the medium term or sooner.
- Price Action: MSFT shares traded lower by 1.84% at $304.50 in the premarket session on the last check Tuesday.
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