UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Removes PT on Microsoft Corporation After Dividend Raise Misses a High Bar

In a report published Wednesday, Morgan Stanley analyst Keith Weiss reiterated an Equal-Weight rating on

, but removed the $51.00 price target. In the report, Morgan Stanley noted, “Microsoft's announced 11% dividend increase was ahead of op. income growth, but likely falls short of expectations for a more aggressive change in capital return. However, this drives little change in our equation for ~13% total return for MSFT from FY15-FY17, modestly above S&P levels.” Microsoft Corporation closed on Tuesday at $46.76.