Microsoft price target raised to $350 from $285 at RBC Capital

RBC Capital analyst Rishi Jaluria raised the firm’s price target on Microsoft to $350 from $285 and keeps an Outperform rating on the shares. The company’s "surprisingly clean" beat-and-raise quarter should help ease some concerns across software, including the narratives around cloud saturation, as AI is set to be the next frontier, the analyst tells investors in a research note. Microsoft’s commercial business showed more resiliency than expected, headlined by Azure growth hitting the high-end of guidance and Office 365 showing continued resiliency, RBC added.