Microsoft (MSFT) PT Lifted to $68 at Nomura
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Nomura Securities analyst Frederick Grieb reiterated a Buy rating and raised his price target on Microsoft (NASDAQ: MSFT) to $68.00 (from $65.00) amid strong results with continued cloud growth.
Grieb commented, ". Microsoft reported F1Q'17 revenue and non-GAAP EPS of $22.3bn and $0.76, which was above revenue expectations of $21.7bn and above the Street's EPS of $0.68. Operating expenses were $7.4bn, inline with guidance of $7.35-7.45bn. Revenue and EPS numbers exclude the impact of Windows 10 deferrals.Overall, this was a solid set of results, with both revenues and EPS beating expectations and cloud businesses outperforming expectations. The stock traded up 6% in the aftermarket following the earnings release. Particular strength was seen in the US, Western Europe and Japan, and we believe investors will view this as a strong report despite F2Q '17 revenue guidance falling just below Street expectations."
FY17E EPS from $2.90 to $3.02; FY18E EPS from $3.20 to $3.28.
Shares of Microsoft closed at $57.25 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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