Normura Reaffirms Current Rating and Price Target for Microsoft (MSFT)
Nomura Equity Research reported on Wednesday that it has reaffirmed both its rating and its price target for software company, Microsoft Corporation(MSFT).
The firm has maintained its “Buy” rating and $37 price target for MSFT. This price target suggests a 27% increase over the stock’s current price of $27.06.
An analyst from the firm commented, “directionally, declining traditional PC units seems to have had a lot of press and may be largely discounted in Microsoft’s stock as investors have been pessimistic on anything PC-related, but Street estimates still appear too high. We have reduced estimates about 4% to reflect recent PC data points out of Asia and the presumption that traditional PC units are in secular decline and the ramp of Windows 8 needs some time.”
Microsoft shares were mostly flat during Wednesday morning trading. The stock is up 4.35% YTD.
The Bottom Line
Shares of Microsoft (MSFT) have a 3.40% dividend yield, based on last night’s closing stock price of $27.08. The stock has technical support in the $25-$26 price area. If the shares can firm up, we see overhead resistance around the $29-$30 price levels.
Microsoft Corporation(MSFT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability