UPDATE: Stifel Nicolaus Raises PT on Microsoft on Potential Catalysts Ahead
In a report published Wednesday, Stifel Nicolaus analyst Brad Reback reiterated a Buy rating on Microsoft Corporation (NASDAQ: MSFT), and raised the price target from $36.00 to $38.00.
In the report, Reback noted, “While the shares of Microsoft (MSFT, $33.53, Buy) have materially outperformed the major indices this year (up 25.5% YTD verse NASDAQ up 14.7% YTD), we believe there is still room for the shares to run. Based on numerous potential-catalysts on the horizon (i.e. release of Windows 8.1, Build developer-conference, launch of <$500 Windows-devices, utilization of Haswell, PC market stabilizing/rebounding,etc.), our belief investors will continue to flock to high-quality, solid dividend-yielders (MSFT ~2.8%), and increasing awareness/appreciation of MSFT's Enterprise-business, we expect the shares to appreciate over the next few quarters. Given these views, combined with multiple-expansion across the group, we are raising our target price to $38 from $36 and would remain buyers.”
Microsoft Corporation closed on Tuesday at $33.53.
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