Citigroup Keeps Microsoft at Buy and Lifts Price Target to $636
Citigroup kept its Buy rating on Microsoft shares and raised its price target from $600 to $636 per share. UBS also maintained its Buy rating.
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what happened
Analysts at Citigroup kept their Buy rating on Microsoft shares. At the same time, the bank raised its price target for the company from $600 to $636 per share.
The same evening, UBS also maintained a Buy rating on Microsoft and on Gildan Activewear.
why it matters
Raising the price target while keeping the rating suggests Citigroup still takes a positive view of Microsoft's stock. Two banks reaffirming ratings on the same evening points to steady analyst sentiment, but it is not a forecast of where the price will go.
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