Nomura Securities Reiterates Buy on Microsoft (MSFT) Ahead of 1Q Report
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Nomura Securities reiterated a Buy rating and $65.00 price target on Microsoft (NASDAQ: MSFT) ahead of the company's 1Q earnings report. Management also recently announced that starting in the 1Q, the company will disclose three new metrics including: commercial cloud gross margin percentage, Windows commercial products and cloud services revenue growth and gaming revenue.
Analyst Frederick Grieb commented, "We expect Microsoft to report a solid quarter, as we expect strong performance in Productivity and Business Process and Intelligent Cloud along with continued, single-digit declines in More Personal Computing results (as PC declines continue). Our reseller survey suggested Microsoft came in above plan in the quarter and resellers were positive on the Office 365 model transition, with 53% of survey respondents indicating customers are adopting Office 365 at a faster pace than a year ago, while an additional 42% said customers were adopting Office 365 at a similar pace yoy."
Shares of Microsoft closed at $57.11 yesterday.
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