June 26 - Microsoft (MSFT, Financial) received a bullish endorsement from Wedbush on Thursday, with analyst Daniel Ives lifting the tech giant's price target to $600 from $515, citing accelerating adoption of artificial intelligence products like Copilot and Azure.
The new target implies a nearly 22% upside from current levels. Ives reaffirmed his Buy rating and described Microsoft's ongoing AI expansion as a “shining moment” for the company, according to a Thursday note.
Citing field checks and customer feedback, Wedbush anticipates roughly 70% of Microsoft's installed user base will adopt its AI tools by 2026. The firm believes 2024 and 2025 will serve as test phases, while broader integration will likely take off in 2026.
Microsoft stock hit a fresh 52-week high of $494.56 during mid-day trading Wednesday, supported by optimism around its enterprise AI strategy. The company plans to invest $80 billion in capital spending for fiscal year 2025 to strengthen its data center infrastructure.
Ives also expects notable adoption in the public, financial, and retail sectors. Microsoft is currently the third-largest holding in the newly launched Dan Ives Wedbush AI Revolution ETF.
The firm added Microsoft to its “Best Ideas List,” underlining confidence in its AI-driven growth trajectory.
