Posted 12/28/2023, 12:36:00 PM
Microsoft Price Target Raised to $450 on Bullish AI Outlook, Analyst Sees 'Copilot Inflection Point'
- Wedbush analyst Dan Ives raised Microsoft's price target by $25 to $450 per share, citing bullish outlook for AI products like Copilot chatbot
- Ives compared Microsoft's AI prospects to Apple's iPhone moment, saying it could drive accelerated cloud growth
- Estimates Copilot could generate $25 billion in revenue for Microsoft by 2025, transforming cloud and AI expansion
- Sees Microsoft having competitive edge in AI over Amazon and Google
- Microsoft stock up 56% in 2023 so far, analyst reiterates "outperform" rating and "best ideas" designation