We're Locking in Big Gains on This Holding as We Hike Its Price Target
We are taking advantage of a more than 35% run. Meanwhile, while mindful of our shopping list, Monday’s Flash June PMI lies ahead.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
MSFT | Sell | 23 | 480 | 370 | 3.5 |
After you receive this Alert, we will sell 23 shares of Microsoft MSFT at or near $480 Following the trade, MSFT shares will account for roughly 3.5% of the Pro Portfolio.
We are taking advantage of the more than 35% run in the shares of Microsoft, a move that has landed the stock well into overbought territory, to lock in a slice of those pronounced gains. We will continue to own a large position in MSFT as the company should continue to benefit from AI adoption, especially as it monetizes oncoming Azure capacity.
With that in mind, we are also lifting our MSFT price target to $515 from $480. That upper single-digit potential upside keeps our Two rating intact. Would we be inclined to buy the shares back at lower levels? The answer is “yes” and with that in mind, we see support near $435 but stronger support at between $415-$420.
For those who may be wondering why we’re not making a move on either of the three stocks on our radar screen mentioned in today’s video, the answer is this: The market is moving higher in part today because of comments from Fed Governor Waller about his seeing the possibility for a July rate cut. However, if Monday’s Flash June PMI shows another leg up in input and output costs as tariffs, to borrow Fed Chair Powell’s words on Wednesday, “make their way through the system,” we may have an opportunity to make any such moves at better prices than we are seeing Friday.
At the time of publication, TheStreet Pro Portfolio was long MSFT.
