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Microsoft (MSFT) is scheduled to announce its fiscal third-quarter results on April 29.
BMO analyst Keith Bachman lowered his MSFT price target to $505 from $575 ahead of Q3 earnings.
KEY POINTS
- Bachman attributes the price target cut to compression in software sector valuation multiples, not Microsoft fundamentals.
- Consensus estimates for Microsoft's FY27 capital expenditures may be too low, according to Bachman.
- Bachman expects management to provide more clarity on future capital spending during earnings, which could reset investor expectations.
COMPANIES
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