Normura Reaffirms Current Rating and Price Target for Microsoft (MSFT)

Normura Reaffirms Current Rating and Price Target for Microsoft (MSFT)

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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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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