Barclays raises Microsoft MSFT 's price target to $610 from $600, maintaining Overweight. Azure is approaching 50% growth even at its massive scale, with delayed capacity deliveries potentially supporting further growth in H2. More importantly, the analyst points to Microsoft 365 commercial cloud accelerating to 19% adjusted growth in constant currency, a higher-margin business that adds to Microsoft's profitability. He calls MSFT the “best of both worlds: better growth from AI but without the high debt burden risk.” He also notes that Microsoft expects to remain free cash flow positive and believes shares are still under-owned among long-only investors. 29-OCT-2026 05:24 AM ET