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Microsoft: Wedbush maintains 'outperform' rating

( - On Thursday Wedbush Securities maintained its "outperform" rating on Microsoft shares, with a target price of $400 (cp: $319.
5, -0.4%), judging that the software giant is "all set" to monetize its recent advances in AI.

While the Redmond, Washington-based group had previously set itself the target of a "gradual" take-off of its AI monetization strategy in FY 2024, the pace of adoption is proving to be much faster than expected, according to the analyst's latest checks.

The broker cites a warm welcome from both customers and partners, who are beginning to plan their AI deployment projects for the next six to nine months.

In his opinion, the launch of Microsoft CoPilot at a price of $30 per month for existing customers will support the company's market share.

Wedbush estimates that over 50% of Microsoft's installed base over the next three years will be driven by AI-related functionalities, a momentum that is likely to be a "game-changer" for the Windows designer, the analyst says.

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