Microsoft (MSFT) PT Raised to $60 at Credit Suisse
Credit Suisse analyst P. Winslow reiterated an Outperform rating and boosted its price target on Microsoft (NASDAQ: MSFT) to $60.00 (from $55.00).
Winslow commented, "Microsoft reported FQ1 results of EPS of $0.67 and $21.660 billion in revenue versus consensus of $0.59 and $21.028 billion, respectively. Although management guided FQ2 revenue and OPEX in line with and COGS above consensus, the company also decreased FY2016 OPEX guidance to $31.9-32.1 billion from $32.1-32.4 billion. We believe that management's lowered OPEX guidance could prove conservative. We are adjusting our FY2016 revenue to $92.805 billion from $92.891 billion and our EPS to $2.88 from $2.72. We reiterate our Outperform rating and raise our target price from $55 to $60."
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Shares of Microsoft closed at $48.03 yesterday.