Wells Fargo analyst Michael Turrin added Microsoft to the firm’s Q4 2023 Tactical Ideas List. The firm notes the stock is down -10% since the Q4 report, as early enthusiasm around AI and Azure reacceleration settles a bit. Wells now sees a favorable path forming ahead of an improving ROY model trajectory with several key catalysts ahead. The firm has an Overweight rating on the shares with a price target of $400.
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