Microsoft: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse maintains its "outperform" rating on Microsoft shares, which is its favourite stock in the field of artificial intelligence (AI), with the broker increasing its target price for the share from $350 to $420, with the latter implying upside potential of 36%.
Given the rapid increase in announcements concerning AI and GPT-based products, the broker is raising its base assumptions for additional revenues and EPS generated for the IT group by this area.
Credit Suisse now expects them to represent $57bn in revenue and $2.90 in terms of EPS in its base case scenario, compared to previous estimates of around $40bn and $2 respectively.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Given the rapid increase in announcements concerning AI and GPT-based products, the broker is raising its base assumptions for additional revenues and EPS generated for the IT group by this area.
Credit Suisse now expects them to represent $57bn in revenue and $2.90 in terms of EPS in its base case scenario, compared to previous estimates of around $40bn and $2 respectively.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.