BUZZ-Brokerages cut Microsoft PT, expect higher capital spending

Microsoft Corporation
Citigroup Inc.

Microsoft Corporation

MSFT

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Citigroup Inc.

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** Brokerages Citi and Mizuho cut PTs on Microsoft MSFT.O; they expect higher capital expenditure by the Windows maker

** Citi cuts PT to $570 from $620; Mizuho cuts PT to $490 from $515

** Wells Fargo cuts MSFT PT to $625 from $650, citing mixed Q4 setup given questions on capital intensity and cloud market share

** Shares of MSFT up 0.4% at $386.51 premarket

** Brokerages also cite strong Azure demand and improving Copilot adoption

** 58 of 62 brokerages rate the stock "buy" or higher, and 4 "hold"; their median PT is $555 - data compiled by LSEG

** MSFT is scheduled to report Q4 results on July 29

** Up to last close, stock has fallen ~20% YTD


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