Microsoft (MSFT) PT Lifted to $68 at Nomura

October 21, 2016 7:00 AM EDT
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Price: $61.01 -0.59%

Rating Summary:
    35 Buy, 15 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 18 | New: 19
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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.

For an analyst ratings summary and ratings history on Microsoft click here. For more ratings news on Microsoft click here.

Shares of Microsoft closed at $57.25 yesterday.



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