BofA Securities analysts raised their price target for Microsoft (NASDAQ:MSFT) to $430 from the previous $415 per share, maintaining a Buy rating on the stock.

BofA expressed increased confidence in Microsoft’s sustained growth, driven by its cloud and AI products. This optimism follows meetings with the CFOs of Microsoft’s various business units at the company’s headquarters in Redmond, Washington.

The analysts remarked on the positive outcomes of these meetings, particularly the reinforced belief in the ongoing growth potential of Microsoft’s core Office and Azure services. They highlighted the possibility of accelerated growth in the commercial office sector, fueled by the gradual integration of the new M365 copilot.

The analysts estimate that a 1% increase in market penetration by this product could translate to an additional $576 million in revenue and a 1.5% increase in growth.

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