Wade Bush raised Microsoft's target share price to $550, further increasing by a quarter

Wedbush Securities analyst Dan Ives raised the target share price for Microsoft (442.57, 0.99, 0.22%) stock from $500 to $550 on Sunday, citing positive feedback from artificial intelligence customers and increased monetization of CoPilot and Azure.

Mr. Ives announced an increase in target stock prices on the X. Analysts took the growing interest in AI provided by Microsoft and the imminent monetization of the cloud computing service Azure as the main reasons for the bullish outlook for the company.

On Friday, Microsoft's stock rose 0.22% and closed at $442.57, leaving room for Wade Busch's new target share price increase of 24 percent or more.