BMO Reaffirms Outperform on Microsoft (MSFT), Stays Positive on Azure Growth

Microsoft Corporation (NASDAQ:MSFT) is one of the 10 Most Profitable Stocks of the Last 5 Years. On October 3, BMO Capital reiterated its Outperform rating on Microsoft Corporation (NASDAQ:MSFT) with a price target of $650. This decision came after speaking with cloud industry experts about the corporation’s cloud business.

BMO Capital received positive feedback on Microsoft Corporation’s (NASDAQ:MSFT) Azure cloud platform. The investment firm pointed out that it seems the company is benefiting from “larger and more durable cloud migrations,” driven in part by VMWare migrations.

The firm expects Microsoft Corporation’s (NASDAQ:MSFT) Azure to grow by 37% in constant currency for the September quarter. The firm also indicated that there might be “upside tension” to this forecast.

Microsoft Corporation (NASDAQ:MSFT) is an American technology company that specializes in AI-powered cloud, productivity, and business solutions. It also develops and markets software, services, and hardware.

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