There’s little question that Microsoft (NASDAQ: MSFT) has benefited from its early focus on the shift to artificial intelligence (AI). The company was quick to adopt and integrate generative AI tools across a broad cross-section of its products and services, which has fueled a robust rally, pushing the stock up 58% over the past year.
One Wall Street investment bank believes there’s more upside to come.
Microsoft can fly higher from here thanks to Copilot
KeyBanc’s Jackson Ader initiated coverage of Microsoft, assigning the stock an overweight (buy) rating and $490 price target. That suggests potential upside for investors of 15% given the stock’s closing price of $429.37 on Mar. 21. The analyst wrote that Microsoft “sits in the catbird seat in two of the three main ways software vendors can monetize the AI wave.”
Ader is, of course, referring to Microsoft’s cloud infrastructure offering…
