JMP Securities Reaffirms Bullish Outlook on Microsoft Corporation (MSFT) Following Copilot Cowork Launch Microsoft Corporation (NASDAQ:MSFT) ranks among the AI stocks beyond NVIDIA that could surge in 2026.
Following Microsoft Corporation (NASDAQ:MSFT)’s product announcements, JMP Securities reaffirmed its Market Outperform rating and $550 price target for the company’s shares on June 23
On June 16, Microsoft Corporation (NASDAQ:MSFT) stated that Copilot Cowork will be available globally and billed depending on usage. On the same day, Stifel reaffirmed its Hold rating and $415 price target for Microsoft Corporation (NASDAQ:MSFT) after the tech giant announced a 20-year power deal with Chevron. The power agreement, known as Project Kilby, is currently in the pre-construction stage.
The project will remain in that stage until a Final Investment Decision is made at year-end 2026. The first power delivery from Project Kilby is anticipated in 2028. According to Stifel, this is the earliest schedule that is feasible, though the project might take longer based on the legal landscape and actual economic value generated.