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Microsoft price target raised to $550 from $485 at BMO Capital

BMO Capital raised the firm’s price target on Microsoft (MSFT) to $550 from $485 and keeps an Outperform rating on the shares after hosting calls with Cloud experts. The commentary on Azure was incrementally positive for the June quarter vs. the March quarter, as consumption was largely stable, production workloads are ramping, and cloud transitions have been helped by aggressive VMware pricing, the analyst tells investors in a research note.

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