Rick Sherlund Sees Possible Office 15 Announcement from Microsoft (MSFT)
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Rating Summary:
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Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
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Microsoft (NASDAQ: MSFT) disclosed a surprise announcement scheduled today for 12PM PDT (3PM ET) and buzz has been circulating about what the announcement could bring.
Top Microsoft analyst Rick Sherlund at Nomura Securities for one thinks that Office 15 will be the subject of the event.
Office 15 was released to technical preview earlier this year, and Microsoft has said previously that Office 15 will be released to public preview over the summer, he notes.
"We suspect that we will hear more on Office today, and we are expecting that Office 15 becomes generally available in the first half of CY13," Sherlund said.
He reiterated his Buy rating and $35 price target, saying the risk/reward is favorable at 7.2x CY13E earnings excluding $5.35 in net cash.
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 $29.39 yesterday, with a 52 week range of $23.79-$32.95.
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Top Microsoft analyst Rick Sherlund at Nomura Securities for one thinks that Office 15 will be the subject of the event.
Office 15 was released to technical preview earlier this year, and Microsoft has said previously that Office 15 will be released to public preview over the summer, he notes.
"We suspect that we will hear more on Office today, and we are expecting that Office 15 becomes generally available in the first half of CY13," Sherlund said.
He reiterated his Buy rating and $35 price target, saying the risk/reward is favorable at 7.2x CY13E earnings excluding $5.35 in net cash.
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 $29.39 yesterday, with a 52 week range of $23.79-$32.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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