Nomura Reiterates Buy on Microsoft Following Management Succession Plan Announcement
In a report published Monday, Nomura analyst Rick Sherlund reiterated a Buy rating and $38.00 price target on Microsoft Corporation (NASDAQ: MSFT).
In the report, Nomura noted, “With today's positive news of a management succession plan at Microsoft, it is important to now assess the implications. This could possibly signal the adoption of ValueAct's expected agenda to enhance shareholder value. If true, this would imply that ValueAct may have secured a nomination from Microsoft for a board seat and that there may be additional shareholder enhancing changes upcoming, including potential significant share repurchases and dividend increase. We maintain our Buy rating on MSFT and look for the potential for additional disclosures at the September 19 analyst meeting.”
Microsoft Corporation closed on Friday at $34.75.
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