Microsoft Corp. (NASDAQ:MSFT) stock was up about 1% on Thursday, outperforming a weak technology sector as investors rotated into large-cap defensive names. The Nasdaq Composite fell 1.35%, while the S&P 500 slipped 0.37%. The Technology sector declined 2.4%.
Recently, several Wall Street analysts updated their outlooks on Microsoft while maintaining bullish ratings ahead of the company’s quarterly earnings later this month.
Analysts Update Price Forecasts
Evercore ISI analyst Kirk Materne reiterated an Outperform rating and raised his price forecast to $525 from $510.
Mizuho analyst Gregg Moskowitz maintained an Outperform rating but lowered his price forecast to $490 from $515.
