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FBR Capital Raises Price Target on Microsoft (MSFT) Following 1Q16

October 23, 2015 7:10 AM EDT

FBR Capital reiterated an Outperform rating on Microsoft (NASDAQ: MSFT), and raised the price target to $60.00 (from $53.00), following the company's 1Q16 earnings results. Total revenue of $21.7 billion came in above the Street's estimate of $20.7 billion, as the company posted stronger-thanexpected results in Office 365, Dynamics CRM Online, and computer gaming and hardware.

Analyst Daniel Ives commented, "Last night,... More