Morgan Stanley analyst Keith Weiss said the firm’s CIO survey suggests continued IT spending moderation, adding that budget growth and an unfavorable up-to-down budget revision expectation create a challenging backdrop into 2023. Still, Microsoft "screens better than most" as a share gainer benefitting from vendor consolidation and its strong positioning addressing CIO priorities, Weiss tells investors. He maintains an Overweight rating and $307 price target on Microsoft shares.
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