Analysts are Revising Prices Targets for These 5 Stocks

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 258

Piper Sandler reduced its price target for Microsoft Corporation (NASDAQ:MSFT) from $312 per share to $275 per share on Thursday, October 20. The research firm believes factors like foreign exchange headwinds and declining IT spending could negatively impact the company’s sales and free cash flow projections for 2023.

Earlier this week, several reports suggested that Microsoft Corporation (NASDAQ:MSFT) recently cut about 1,000 jobs. Industry experts are linking the reported layoffs to the company’s decelerating sales growth.

Like Microsoft Corporation (NASDAQ:MSFT), many notable firms, such as Meta Platforms and Twitter also reduced their global workforce amid an uncertain macro environment.

You can also take a peek at Best Chemical Stocks To Buy and 13 Best Cybersecurity Stocks To Buy.

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