Microsoft price target raised to $646 from $641 at Bernstein

Bernstein analyst Mark Moerdler raised the firm’s price target on Microsoft (MSFT) to $646 from $641 and keeps an Outperform rating on the shares. While this was a solid quarter beating consensus on every major metric, this was not the definitive Azure acceleration quarter the firm had hoped for, Bernstein says. It was a solid quarter but not enough to make those sitting on the sidelines to return to Microsoft, argues the firm.