Microsoft Analyst Sees Solid Lead Generation From Latest Event

Wells Fargo analyst Michael Turrin reiterated an Overweight on Microsoft Corp MSFT and a $315 price target.
Turrin attended Microsoft Ignite in Seattle last week. MSFT announced multiple new products centered around the theme "do more with less with Microsoft" and emphasized the company's general growth drivers like cloud, data, automation, and security.
While the conference was notably different from the past, he still expects that MSFT will see solid lead generation from the event, given virtual attendance that eclipsed 200k attendees globally, GA of multiple essential products and pricing models, and considerable organic interest from customers in attendance.
Despite a stricter setup ahead of the Q1 print, Turrin views MSFT favorably in the current environment, given a well-entrenched position across multiple end markets and differentiated ability to lean into vendor consolidation opportunities.
Turrin's $315 price target is reasonable given the improving durability prospects for this business and rapidly improving margin profile due to significant scale and substantial operating leverage in the model.
Mizuho analyst Gregg Moskowitz maintained Microsoft with a Buy and cut the price target from $340 to $320.
Price Action: MSFT shares traded higher by 3.81% at $237.21 on the last check Monday.

Momentum31.48

Growth62.04

Quality35.18

Value14.60

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