Analysts Trim Microsoft Targets on AI CapEx, Keep Buy Ratings Pre-Earnings

Major analysts including Piper Sandler, Mizuho, and TD Cowen trimmed Microsoft price targets to $500-$515 in mid-April while retaining bullish ratings, with consensus at Moderate Buy and $577.58. Concerns focus on slowing Azure growth and record quarterly CapEx of $37.5 billion (+67% YoY), pressuring near-term margins despite long-term AI potential. The stock, down over 13% in 2026 and trading at 26x earnings, faces April 29 earnings with a whisper EPS of $4.13 versus $4.07 consensus, signaling mixed short-term trading but attractive long-term value.