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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
Mar 2015Pacific CrestMaintainsOutperform
Jan 2015Atlantic EquitiesDowngradesNeutralUnderweight
Jan 2015CitigroupMaintainsSell

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