Microsoft up 8% as FQ3 results top estimates on cloud resilience; Analysts raise numbers
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Evercore ISI Stays Outperform on Microsoft (MSFT): 'this announcement should not distract from the broader narrative around cloud/AI'
April 26, 2023 9:26 AM EDTEvercore ISI analyst Kirk Materne reiterated an Outperform rating and $337.00 price target on Microsoft (NASDAQ: MSFT).
The analyst comments "In a somewhat surprising move after a lot of back/forth between the two parties, the CMA denied Microsofts acquisition of Activision based on concerns about the downstream implications on the cloud gaming market. There are a lot of potential long-term implications for tech M&A that are worth discussing at another time, but the bottom line as it relates to MSFT/ATVI is that the process from here... More
