Nomura Securities Maintains a 'Buy' on Microsoft (MSFT); Gartner First Look: PCs Not So Bad In 1Q’12

Nomura Securities maintains a 'Buy' on Microsoft (NASDAQ: MSFT) price target of $37.00.

Analyst, Rick Sherlund, said, "Gartner has updated its PC forecast, with no real elaboration at this time – they have kept full-year 2012 essentially unchanged at 4.4% growth (versus 4.5% previously, and our forecast of 3.0%), but moved about 8mn shipments back into the March quarter and now look for a decline of 1% (-10% q/q), versus a decline of 11% previously (-19% q/q)...Based on the shipment cutback in December, we had been forecasting Windows revenues to decline 10% in the March quarter (the Street is looking for a 6% decline). Based on Gartner’s update, this is an incremental positive going into the quarter."

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 $32.08 yesterday.

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