Auriga Upgrades Microsoft (MSFT) to Buy
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Rating Summary:
23 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Auriga upgrades Microsoft (Nasdaq: MSFT) from Hold to Buy and raises their price target from $24 to $30, saying while Q1 will be weak, the cycle of downward estimate revisions for the company is drawing to a close.
The firm commented, "in our view, whereas Street estimates for CY09 were overly aggressive and had to be repeatedly ratcheted down, consensus expectations for CY10 and beyond appear too low. We highlight several reasons for our optimism on MSFT and recommend buying the stock before the Street more fully embraces MSFT’s medium- to long-term earnings potential."
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