Oppenheimer Remains Positive on Microsoft (MSFT) Following 4Q15
Oppenheimer reiterated an Outperform rating and $50.00 price target on Microsoft (NASDAQ: MSFT) following 4Q15 results. MSFT reported revenues of $22.2B and EPS of $0.62 (Street $0.56).
Analyst Shaul Eyal commented, "Excluding the one-time impairment charge relating to the NOK write-off, MSFT results came in a tad better than consensus. Initial F1Q16 guidance is optically shy of prior estimates, but FX is the main culprit. The just reported F4Q15 showed: 1) Continued improvement for the Cloud Services products; 2) Continued cost containment further supporting margins improvement; 3) Positive road-map for WIN10 and 4) MSFT further re-positioning itself for post-PC era. While the stock was slightly off in afterhours (down 3%), we believe demand trends remain steady and strategically MSFT is making all the right moves. Reiterate Outperform and $50 PT."
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Shares of Microsoft closed at $47.28 yesterday.