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MKM Cuts Target on Microsoft to $28 Amid 'Challenging Start' for Win8, Surface

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MKM Partners' Israel Hernandez reduced his price target on Microsoft (NASDAQ: MSFT) from $32 to $28 Wednesday morning. The analyst maintains a Neutral rating.

The analyst's lowered target is based on in-store checks which suggest Windows 8 and the Surface are "off to a challenging start." Hernandez lowered his FY13 Surface shipments estimate from 4.5 million to 3.3 million and his FY14 shipment estimate from 10 million to just 6.6 million.

Latest Ratings for MSFT

DateFirmActionFromTo
Nov 2016Goldman SachsUpgradesNeutralBuy
Nov 2016Atlantic EquitiesUpgradesUnderweightNeutral
Oct 2016NomuraMaintainsBuy

View More Analyst Ratings for MSFT
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