Microsoft: share price advances, New Street initiates a buy decision
Just under an hour after the opening, the American software giant's stock gained nearly 0.8%, while the Dow was virtually unchanged at the same time.
The share price has now gained over 12% since the start of the year.
In a study entitled "From one revolution to the next", the independent research firm highlights the numerous quality franchises enjoyed by the Redmond, Washington-based group, notably in the cloud with Azure.
Hailing its "excellent execution", it points out that the share price has increased 12-fold over the past ten years, while sales have tripled and EPS quadrupled over the same period.
The firm believes that the company - which it also considers to be well positioned in the field of generative AI thanks to its partnership with OpenAI - could grow its profitability at an annual rate of between 10% and 15% over the next few years.
Against this backdrop, New Street initiates its monitoring of the stock with a Buy recommendation and a price target of $570, pointing to a potential upside of 35%.
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