Nomura Equity Research Reiterates Buy Rating, $37 PT on Microsoft Corporation
In a report published Wednesday, Nomura Equity Research reiterated its Buy rating and $37.00 price target on Microsoft Corporation (NASDAQ: MSFT).
Nomura Equity noted, “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 Corporation closed on Tuesday at $27.08.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.