Deutsche Bank Upgrades Microsoft Corp. to “Buy” (MSFT)
Microsoft Corp. (NASDAQ:MSFT) was upgraded by equities research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $40.00 price objective on the stock, up from their previous price objective of $32.00. Deutsche Bank’s price target would suggest a potential upside of 11.33% from the stock’s previous close.
The analysts wrote, “Street sentiment about the overall PC market is already as negative as it’s likely to be and in fact the PC market is showing early signs of life (or at least stability). Microsoft is, in our view, still not getting enough credit for its large and stable enterprise software business, which we believe is well-positioned as overall IT spending improves and the spending mix shifts to cheaper solutions.”
Microsoft Corp. (NASDAQ:MSFT) traded down 0.29% on Wednesday, hitting $35.825. 26,307,360 shares of the company’s stock traded hands. Microsoft Corp. has a one year low of $27.10 and a one year high of $38.98. The stock’s 50-day moving average is $36.89 and its 200-day moving average is $34.77. The company has a market cap of $299.1 billion and a price-to-earnings ratio of 13.45.
In other Microsoft Corp. news, EVP Anthony John Bates unloaded 14,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.29, for a total transaction of $508,060.00. Following the completion of the transaction, the executive vice president now directly owns 601,777 shares of the company’s stock, valued at approximately $21,838,487. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of Microsoft Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, January 14th. They now have a $29.00 price target on the stock. Separately, analysts at Barclays upgraded shares of Microsoft Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, January 10th. They now have a $42.00 price target on the stock, up previously from $35.00. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Microsoft Corp. in a research note to investors on Monday, January 6th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.72.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services.
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