Citi Cuts Microsoft Price Target By 8%

January 20, 2022 10:34 AM | 1 min read | Make a Comment

Citi sees Microsoft Corp MSFT likely continuing its strong growth rates generated in the past several quarters.
However, Microsoft's "lower commercial PC numbers" and the decline in earnings multiples for software stocks led to the target price cut to $376 from $407. The price target implies an upside of 21%.
Meanwhile, analyst Tyler Radke reiterated the Buy rating on the shares.
Radke expects overall growth durability to show "positive partner takeaways and reseller survey results," particularly in certain EA renewals and Office 365 and Dynamics.
In contrast, Azure revenue growth could moderate amid tougher comps and seasonally weaker bookings.
Price Action: MSFT shares traded higher by 2.09% at $309.77 on the last check Thursday.