J.P. Morgan Reiterates Neutral Rating, $30 PT on Microsoft Corporation Ahead of Company Analyst Day

In a report published Wednesday, J.P. Morgan analyst John DiFucci reiterated a Neutral rating and $30.00 price target on Microsoft Corporation MSFT. In the report, J.P. Morgan noted, “Before the market open on Tuesday, MSFT announced a moderate increase to its quarterly dividend that was in line to slightly better than expected while replacing its existing share buyback program with one of equal size. With the company's capital return plan set, together with other recent announcements, we believe the only significant catalyst remaining for MSFT is the company's Analyst Day on September 19, at which time we think the company is likely to guide the Street down on FY14 EPS.” Microsoft Corporation closed on Tuesday at $32.93.