Collins Stewart Comments on Microsoft (MSFT) Following Analyst Meeting, Maintains $33 PT
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Price: $34.15 --0%
Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
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Collins Stewart is reaffirming its Buy rating and $33 price target on shares of Microsoft (NASDAQ: MSFT) following its analyst meeting.
At the meeting, the company announced that Windows Phone 7 is experiencing lower-than-expected growth, but forecasts that its new Mango, and Nokia (NYSE: NOK) arrangements will help drive growth.
While further adoption of cloud systems is going to drive the company's Server & Tools segment, Office should continue to experience growth from productivity platforms like Lync, Sharepoint, and Office 365.
Management sees $300 billion in market opportunity growing to $600 billion by 2015.
The company continues to has the AAA credit rating and the firm believes that they will increase their dividend at the end of this month.
An analyst at Collins Stewart comments, "MSFT still has a lot of Windows 8 work ahead, but we believe is off to a promising start, and we believe it remains an embedded call option within MSFT's stock."
The firm currently estimates EPS of $2.70, $2.82, and $3.03 for years 2011-2013. Revenue for the three years is estimated to be $69.94 billion, $73.39 billion, and $79.54 billion.
For more ratings news on Microsoft click here and for the rating history of Microsoft click here.
Shares of Microsoft closed at $26.04 yesterday, with a 52 week range of $23.65-$29.46.
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At the meeting, the company announced that Windows Phone 7 is experiencing lower-than-expected growth, but forecasts that its new Mango, and Nokia (NYSE: NOK) arrangements will help drive growth.
While further adoption of cloud systems is going to drive the company's Server & Tools segment, Office should continue to experience growth from productivity platforms like Lync, Sharepoint, and Office 365.
Management sees $300 billion in market opportunity growing to $600 billion by 2015.
The company continues to has the AAA credit rating and the firm believes that they will increase their dividend at the end of this month.
An analyst at Collins Stewart comments, "MSFT still has a lot of Windows 8 work ahead, but we believe is off to a promising start, and we believe it remains an embedded call option within MSFT's stock."
The firm currently estimates EPS of $2.70, $2.82, and $3.03 for years 2011-2013. Revenue for the three years is estimated to be $69.94 billion, $73.39 billion, and $79.54 billion.
For more ratings news on Microsoft click here and for the rating history of Microsoft click here.
Shares of Microsoft closed at $26.04 yesterday, with a 52 week range of $23.65-$29.46.
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
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