MKM Cuts Target on Microsoft to $28 Amid 'Challenging Start' for Win8, Surface
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
|Sep 2014||MKM Partners||Initiates Coverage on||Buy|
|Jul 2014||Pacific Crest||Upgrades||Sector Perform||Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.