Cowen Reiterated Market Perform on Microsoft (MSFT) Following Windows 10 Device Event and New Surface Book Announcement
Cowen reiterated a Market Perform rating and $49.00 price target on Microsoft (NASDAQ: MSFT) following a Windows 10 Device Event in NY. MSFT announced that it's entering the laptop market with its new Surface Book hybrid laptop / tablet. Featuring a 13.5" detachable screen, 12 hour battery life, and high-end innovative features such as a unique and distinctive hinge, the Surface Book will be GA on October 26, and pricing starts at $1,499.
Analyst Gregg Moskowitz commented, "Earlier today, we attended the Windows 10 Device Event in NY. The most important announcement was its entry into the hybrid laptop market, with the Surface Book. The hardware looks very polished, although its presence will likely further strain MSFT's relationships with OEM partners. Nonetheless, this was a better than expected event for MSFT, a reflection of improved leadership at the co."
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Shares of Microsoft closed at $46.63 yesterday.