Nomura Securities Reiterates Buy on Microsoft (MSFT) Following Conference Call with Comfort Systems
Nomura Securities reiterated a Buy rating and $65.00 price target on Microsoft (NASDAQ: MSFT) after hosting a conference call with Comfort Systems surrounding Office 365. While the CIO of Comfort Systems, Jeremy Jones, believes that the total cost of ownership for an Office 365 deployment is less than the company’s previous on premise Office deployment, Comfort Systems is paying more to Microsoft for this service. The difference in cost of ownership comes from the fact that Comfort Systems needs to spend less on servers, datacenter space, etc.
Analyst Frederick Grieb commented, "When Jeremy Jones took over as CIO of Comfort Systems, the company had 40 separate IT departments. Mr. Jones was tasked with consolidating these departments into one and was looking to move as much of his infrastructure as possible to the cloud. For cloud email, the company looked at Office 365, Google, and potentially having an on-premise version of Office hosted by a third party. Mr. Jones decided to deploy Office 365, citing
an overall lower cost, stronger functionality and smoother transition due to the fact that employees were already using Microsoft Office."
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 $52.78 yesterday.