Nomura Securities Adjusts Estimates on Microsoft (MSFT); New Products to Debut
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Price: $34.06 -0.26%
Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Trade MSFT Now!
Nomura Securities maintains a 'Buy' on Microsoft (NASDAQ: MSFT) price target of $37.00.
Analyst, Rick Sherlund, said, "New products in Microsoft’s three most profitable divisions begin with the launch of Windows Server 2012 in September, Windows 8 on 26 October and a new version of the Office suite (Office 2013) to roll out in phases beginning in October. Windows Phone 8 is expected in November, likely more important to sentiment than near-term revenues or earnings. Initiate FY’14 revenue estimate of $88.8bn and EPS of $3.32. Adjust our FY’13 revenue estimate higher to $81.4bn from $80.9bn, and EPS lower to $3.00 from $3.10. The change in EPS reflects the loss of $0.08 in earnings from the expected decline in interest income due to lower rates and the rollover of the investment portfolio to lower yields. Risk reward is favorable at 7.3x CY 13 earnings excludingn$5.97 in net cash (tax effected for repatriation), and 7.3x EV to trailing 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 $30.67 yesterday, with a 52 week range of $23.79-$32.95.
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Analyst, Rick Sherlund, said, "New products in Microsoft’s three most profitable divisions begin with the launch of Windows Server 2012 in September, Windows 8 on 26 October and a new version of the Office suite (Office 2013) to roll out in phases beginning in October. Windows Phone 8 is expected in November, likely more important to sentiment than near-term revenues or earnings. Initiate FY’14 revenue estimate of $88.8bn and EPS of $3.32. Adjust our FY’13 revenue estimate higher to $81.4bn from $80.9bn, and EPS lower to $3.00 from $3.10. The change in EPS reflects the loss of $0.08 in earnings from the expected decline in interest income due to lower rates and the rollover of the investment portfolio to lower yields. Risk reward is favorable at 7.3x CY 13 earnings excludingn$5.97 in net cash (tax effected for repatriation), and 7.3x EV to trailing 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 $30.67 yesterday, with a 52 week range of $23.79-$32.95.
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