Analysts Are Increasing Price Targets of These 5 Stocks

02. Microsoft Corporation (NASDAQ:MSFT)

Upside Potential: 20%

On July 24, DA Davidson increased its price target on Microsoft Corporation (NASDAQ:MSFT) from $350 to $415 per share. This significant upward adjustment in the price target is attributed to Microsoft Corporation (NASDAQ:MSFT) strong leadership and prominence in the field of artificial intelligence (AI). The firm’s positive assessment of Microsoft Corporation (NASDAQ:MSFT) AI capabilities indicates its confidence in the company’s ability to leverage this cutting-edge technology to drive growth and innovation. As a result, DA Davidson maintains its buy rating on Microsoft Corporation (NASDAQ:MSFT) shares, suggesting that they believe the stock has the potential to outperform the market and deliver favorable returns to investors. The new price target of $415 represents the level at which DA Davidson expects Microsoft Corporation (NASDAQ:MSFT) stock to potentially reach in the future, reflecting their optimistic outlook for the company’s performance and growth prospects.

The Ithaka Group made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its second quarter 2023 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) builds best-in-class platforms and provides services that help drive small business productivity, large business competitiveness, and public-sector efficiency. Microsoft’s products include operating systems, cross-device productivity applications, server applications, software development tools, video games, and business-solution applications. The company also designs, manufactures, and sells devices, including PCs, tablets, and gaming/entertainment consoles that all integrate with Azure, its cloud computing service. In the quarter Microsoft’s stock appreciated on the back of excitement surrounding the company’s positioning in the generative AI market and its ability to monetize the coming wave of corporate investment in supercomputing and AI.”