Nomura Securities Reiterates Buy on Microsoft (MSFT) Ahead of 4Q Earnings Release
Nomura Securities reiterated a Buy rating and $65.00 price target on Microsoft (NASDAQ: MSFT) ahead of the company's 4Q earnings report. Nomura expects MSFT to report solid results as surveys suggest the company came in above plan in the quarter and resellers were positive on the Office 365 model transition.
Analyst Frederick Grieb commented, "We expect Microsoft to report a solid quarter, as we expect strong performance in Productivity and Business Process and Intelligent Cloud along with moderated decreases in More Personal Computing results (due to continued declines in PC growth). Our reseller survey suggested Microsoft came in above plan in the quarter and resellers were positive on the Office 365 model transition, with 71% of survey respondents indicating customers are adopting Office 365 at a faster pace than a year ago, while 25% said customers were adopting Office 365 at a similar pace versus a year ago."
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Shares of Microsoft closed at $53.51 yesterday.