Wells Fargo Boosts Microsoft Price Target to $725 Amid Analyst Optimism

Microsoft's stock is trading higher after Wells Fargo raised its price target to $725, joining other analysts in upbeat assessments of the company.

The latest move by Michael Turrin, a Wells Fargo analyst, comes as part of a string of bullish calls on Microsoft from various firms over the past week. Piper Sandler and Stifel have also boosted their targets for MSFT stock, with prices ranging from $480 to $725.

Wells Fargo's upgrade adds weight to Microsoft's recent run, with the company now boasting an average price target of $572.33 among analysts. The firm has seen a steady climb in its chart since late July, when earnings news sent shares soaring from around $400 to over $500 within days.

However, a stubborn ceiling between $515 and $520 has repeatedly thwarted Microsoft's attempts to break through, with the stock testing this area again on Thursday. A genuine breakout above this level could signal a run towards fresh 52-week highs for MSFT shares.