Microsoft Is ‘Good Place to Hide’ in a Recession. This Analyst Cut His Price Target Anyway.

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Updated July 19, 2022 9:12 am ET / Original July 19, 2022 7:41 am ET

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Microsoft won’t be immune to an economic slowdown, Citi said, cutting its price target on the stock. But the tech giant’s growth in cloud-based services and a recent pullback in its share price make it a “good place to hide” in a recession, the bank said.

Analyst Tyler Radke reiterated a Buy rating on Microsoft (ticker: MSFT ) on Tuesday, even as he lowered his price target to $330 from $364.

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