Microsoft (NASDAQ: MSFT) has received a fresh price target increase from Wall Street after its latest earnings results reinforced confidence in the company’s artificial intelligence and cloud growth strategy.

In this regard, Tigress Financial Partners reiterated its ‘Buy’ rating on Microsoft and raised its 12-month price target to $690 from $595, representing a 15.97% increase from the firm’s previous forecast.

Based on Microsoft’s press-time price of $489, the new target implies upside potential of roughly 40%.

The revised outlook comes as analysts continue to highlight Microsoft’s leadership in artificial intelligence, accelerating Azure cloud growth, and expanding monetization of its Copilot platform.