Barclays maintains an 'Equalweight' on Microsoft (MSFT); Lowering 3QFY11 Windows Outlook on Weak PC Sales
Tweet Send to a FriendGet Alerts MSFT Hot Sheet
Price: $34.27 -0.98%
Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 24 | New: 29
Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 24 | New: 29
Trade MSFT Now!
Barclays maintains an 'Equalweight' on Microsoft (NASDAQ: MSFT), PT $30.
Barclays analyst says, "We are lowering our 3QFY11 Windows revenue forecast (EPS unchanged) to reflect ongoing PC weakness...For 3QFY11, we are lowering our revenue estimate to $16.43 billion from $16.33 billion to reflect a reduction in our Windows growth expectation from flat to -2%. Our EPS estimate remains unchanged at $0.57."
"While 1Q growth rates were worse than expectations, we believe the result underscores persistent headwinds that Microsoft's Windows business is likely to face in coming quarters, chiefly a maturing PC market but more ominously share erosion to new form factors such as tablets and smartphones and a resurgent Mac platform, which year-on-year increased share from 7.3% to 9.3% in 1Q according to Gartner."
For more ratings news on Microsoft click here and for the rating history of Microsoft click here.
Shares of Microsoft closed at $25.63 yesterday, with a 52 week range of $22.73-$31.58.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Barclays analyst says, "We are lowering our 3QFY11 Windows revenue forecast (EPS unchanged) to reflect ongoing PC weakness...For 3QFY11, we are lowering our revenue estimate to $16.43 billion from $16.33 billion to reflect a reduction in our Windows growth expectation from flat to -2%. Our EPS estimate remains unchanged at $0.57."
"While 1Q growth rates were worse than expectations, we believe the result underscores persistent headwinds that Microsoft's Windows business is likely to face in coming quarters, chiefly a maturing PC market but more ominously share erosion to new form factors such as tablets and smartphones and a resurgent Mac platform, which year-on-year increased share from 7.3% to 9.3% in 1Q according to Gartner."
For more ratings news on Microsoft click here and for the rating history of Microsoft click here.
Shares of Microsoft closed at $25.63 yesterday, with a 52 week range of $22.73-$31.58.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Microsoft (MSFT) Rally is Over, Says Barclays
- MKM Partners Lifts PT on KB Home (KBH) After Management Meetings
- Workday (WDAY) Success Continues but Valuation Lofty, Goldman Maintains Neutral
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
