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Microsoft: Wedbush raises TP

( - On Monday Wedbush Securities raised its target price for Microsoft shares from $500 to $550, while renewing its 'outperform' rating on the stock (cp: $xxx, +%).

The broker is increasingly optimistic about the wave of investment in AI, saying it anticipates an 'acceleration' in the field after talking to industry professionals.

According to Wedbush, Microsoft is currently enjoying a momentum comparable to that experienced by Apple at the time of the iPhone launch, a prospect likely to change the Redmond-based group's growth trajectory.

According to its calculations, the US software giant could see its sales increase by $25bn by FY 2024/2025.

The stock thus remains on the Wedbush Best Ideas List.

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