UBS Cuts Microsoft Target Price to $480 From $510 on July 28, Maintains Buy Rating

MSFT2.16%
According to UBS analysts on July 28, the investment bank cut its Microsoft (MSFT) target price from $510 to $480 while maintaining a buy rating. The bank cited expectations that Microsoft will raise capital expenditure guidance while holding Azure growth guidance flat, creating a combination of high spending with limited revenue growth that may not appeal to the market.
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