Two analysts remained bullish despite slashing their price targets on Microsoft Corp.
Citigroup analyst Tyler Radke maintained Microsoft with a Buy and lowered the price target from $386 to $355.
Amidst rising investor concerns around the sustainability of robust software demand and valuation multiples, Citi analyst
Tyler Radke expects MSFT’s results to demonstrate that commercial demand remains strong.
While the March/FQ3 saw weaker PC data and potential incremental FX headwinds, Radke saw strength in MSFT’s key commercial selling areas, including O365 and Azure, based on the results of Radke’s proprietary reseller survey and intra-Q channel work.
Radke expects that Q3 results should continue to show the durability of MSFT’s double-digit growth profile.
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