Jefferies analyst Brent Thill is “very positive” on Microsoft (MSFT) following the firm’s survey of 40 enterprises indicating that Copilot could drive more than $11B in revenue in calendar 2026, and Copilot is fueling Azure and Security spend, the analyst tells investors in a research note. The firm says 80% of the respondents expect Microsoft’s budget to increase in 2026 and believes it is a top AI winner. The firm has a Buy rating and $600 price target on the shares.
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