Target price of $315, Goldman Sachs "cheers" for Microsoft to list it as "TOP PICK" in 2023

CTOnews.com, Dec. 10 (Xinhua)-- Goldman Sachs publicly cheered Microsoft on Friday to list it as a "TOP PICK" and praised Microsoft for its resilience and ability to cope with these challenges in the face of the recession. Goldman Sachs believes Microsoft's good record during the recession will boost investor confidence and give investors hope next year.

Tuyuan PixabayCTOnews.com learned that Goldman Sachs listed Microsoft as a "TOP PICK" in 2023 and said Microsoft's target price would climb to $315, giving it 27.3% room to rise from Thursday's closing price.

Microsoft, like most big technology companies, ran into trouble in 2022 as the Federal Reserve raised interest rates to fight inflation. But Goldman Sachs points out that through Microsoft's dividend and share buyback records, Microsoft can be seen to increase its profitability by improving its own efficiency and relying heavily on capital allocation during the recession.