Nomura Securities Maintains a 'Buy' on Microsoft (MSFT); 'Major' Announcement in LA Coming

June 15, 2012 9:10 AM EDT
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Nomura Securities maintains a 'Buy' on Microsoft (NASDAQ: MSFT) price target of $37.00.

Analyst, Rick Sherlund, said, "Microsoft has sent invitations to the press and analysts for a ‘major’ announcement Monday to take place in Los Angeles late in the day (June 18). No details were given about what the event may entail, but we believe it will be product related. We will be in LA and covering the event. We think the risk/reward is favorable at 7.0x CY13E earnings excluding $5.35 in net cash (tax-affected for repatriation) and 6.7x EV to uFCF."

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 $29.34 yesterday.

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