Citi Likes Microsoft (MSFT)

Citi Investment Research is out with a research note on Microsoft MSFT and it rates the shares at Buy and with a $31 price target. In the research note, Citi writes, "Conversations with investors suggest many would like to see Microsoft increase its buy-back activity or boost its dividend. In the past, dividend increases have happened in mid-to-late September." Citi goes on to say, "While secular concerns will likely continue to keep a lid on shares, we expect upward earnings revisions can continue. Medium term, we believe the company's ability to address concerns around tablet, online and phone will drive share performance more than buyback or dividend moves." Shares of Microsoft lost 11 cents on Friday to $25.22, a loss of 0.4%.