The financial services company gave the stock roughly 20% potential upside from Monday's close.
Piper Sandler named Microsoft as its "highest conviction" large-cap stock to own into the year-end. Analysts from the financial services company pointed to a few drivers for the stock in an Oct. 15 note. One of them is what they described as Microsoft's "first-mover advantage" in generative artificial intelligence. Earlier this year, Microsoft pushed ahead with its ChatGPT AI chatbot, which was developed by OpenAI.
Piper Sandler is optimistic, noting there's been increased traffic to Microsoft's Copilot adoption website. "In our view, this hints at an inflection of IT administrators preparing for M365 Copilot," it said. " multiple upside levers to revenue and EPS growth over the next 3-5 years," its analysts concluded.
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