: Microsoft upgraded to buy from neutral at UBS on cloud stabilization, AI catalysts

Microsoft Corp. was upgraded to buy from neutral in a note dated Thursday by UBS analysts, who cited signs that Azure/AWS cloud infrastructure spending was starting to stabilize after a hefty drop over the past year. “We believe this, coupled with near-term AI catalysts as well as the material underperformance in the stock since May 1st, make the set up too attractive to maintain a neutral view of the stock,” said a team of analysts led by Karl Keirstead. Their 12-month target on Microsoft shares was lifted to $400 from $345 per share.

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