Microsoft price target lowered to $600 from $610 at Barclays

Barclays analyst Raimo Lenschow lowered the firm’s price target on Microsoft (MSFT) to $600 from $610 and keeps an Overweight rating on the shares. The firm says the Microsoft story “will see a slight rethink” post the fiscal Q2 report. While AI momentum and extra capacity drove higher Azure growth, the company is now using new capacity for more of its first-party offerings like Copilot, which means upside “will need to show up differently,” the analyst tells investors in a research note.