Microsoft price target raised to $600 from $585 at Wells Fargo

Wells Fargo raised the firm’s price target on Microsoft (MSFT) to $600 from $585 and keeps an Overweight rating on the shares ahead of quarterly results. The firm says that recent field work suggests no slowdown in demand for Microsoft’s AI solutions, bolstering its confidence in the Q4 and FY26 setup ahead. Further, recent cost actions help offset growing depreciation burden, enabling double digits EPS growth next year, Wells adds.