Macquarie analyst Frederick Havemeyer raised the firm’s price target on Microsoft to $460 from $455 and keeps an Outperform rating on the shares following what the firm describes as “a well-balanced beat” in fiscal Q3. The firm estimates Azure AI Services crossed $4B in run-rate revenue, likes signs that Copilot testing and adoption are progressing, and tells investors that key growth drivers, especially Azure and Gaming, continue to perform well.
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