Why Evercore Is Even More Bullish on Microsoft (MSFT) After Its 360 Event

We recently published a list of 10 AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where Microsoft Corporation (NASDAQ:MSFT) stands against other best AI stocks on latest news and ratings.

Microsoft Corporation (NASDAQ:MSFT) provides AI-powered cloud, productivity, and business solutions, focusing on efficiency, security, and AI advancements. On May 22, Evercore ISI Group reaffirmed its “Outperform” rating on the stock and raised its price target from $500.00 to $515.00. Analyst Kirk Materne’s rating update follows the firm’s annual Microsoft 360 event featuring virtual panels with Microsoft customers and partners, and in-person meetings with Microsoft’s President of the Americas, Deb Cupp, and the Investor Relations team.

Why Evercore Is Even More Bullish on Microsoft (MSFT) After Its 360 Event

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Partner and customer conversations highlighted an “upbeat tone” which supports a bullish long-term view of Microsoft’s ability to benefit from AI adoption in the enterprise market. Azure’s infrastructure and application capabilities allow Microsoft to leverage the growing AI demand. Moreover, customers are still interested in spending on artificial intelligence despite the uncertain macroeconomic backdrop, reflecting priority in organizational strategies.

Feedback from partners further reveals that key products driving Microsoft’s AI adoption include GitHub Copilot and Copilot for Teams, and that the decision to offer Copilot Chat free is seen as a catalyst for faster adoption. The analyst further added that Microsoft remains an “all weather” stock due to its sturdy double-digit growth profile and fortress-like balance sheet.

Overall, MSFT ranks 1st on our list of best AI stocks on latest news and ratings. While we acknowledge the potential of MSFT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MSFT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.