Piper Sandler analyst Brent Bracelin maintained Microsoft Corp (NASDAQ: MSFT ) with an Overweight and cut the price target from $352 to $312.
He saw Microsoft Cloud poised to cross over the $100 billion annualized run-rate milestone for the first time on 29% Y/Y estimated growth (~33% ex-FX).
Bracelin cut his estimates, factoring in further FX headwinds as U.S. Dollar strength continues to persist into July.
Relative to a 50% international mix, ... Full story available on Benzinga.com