Jefferies Cuts Price Target on Microsoft (MSFT)

Jefferies maintained a Hold rating on Microsoft (NASDAQ: MSFT) and cuts its price target to $31.00 (from $34.00).

Overall analysts at the firm think Windows 8 remains a work in progress and broad success in tablets and smartphones is yet to be proven.

"We still believe that current limited availability of W8 touch devices, X86 tablets and the myriad of cheap consumer alternatives means that MSFT has yet to find broad consumer adoption. But MSFT's comments re customer feedback on W8 is better than many feared and we continue to monitor the situation closely," said analyst Ross MacMillan.

For an analyst ratings summary and ratings history on Microsoft (NASDAQ: MSFT) click here. For more ratings news on Microsoft click here.

Shares of Microsoft closed at $27.36 yesterday.

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