May 15, 11:43 AM

Citi Raises Microsoft PT to $540 on Azure Growth, Cuts Workforce; Maintains Buy on Uber at $102 with New Product Suite

Citi has reiterated its Buy rating on Uber Technologies Inc., maintaining a price target of $102, citing the company's new product suite that enhances affordability, frequency, and convenience as key drivers for multi-year growth. Meanwhile, Citi has raised its price target for Microsoft Corp to $540 from $480 while maintaining a Buy rating. This upgrade follows Microsoft's strong third-quarter earnings report and a 3% workforce reduction, which is expected to provide over $1 billion in fiscal year 2026 tailwinds. Citi highlighted the reacceleration of Azure growth and continued capital expenditure momentum as positive factors supporting the outlook. Analysts at Citi suggest that Microsoft shares could jump nearly 20% based on these developments.

#Citi #Buy #Microsoft Corp #Microsoft #Azure

Written with ChatGPT (GPT-4).

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