Citi Reiterates a ‘Buy’ on Microsoft (MSFT) After NY Analyst Meeting

Citi reiterates a ‘Buy’ rating and $22 price target on Microsoft (Nasdaq: MSFT) following yesterday’s analyst meeting. The firm said Mr. Softie is well positioned to outperform in a recession due to its diversified product set, cash-rich balance sheet and free cash flow generation.

Citi analyst says, “MSFT’s mid-year update this morning offered no new guidance, with management reiterating themes from its recent earnings call. Management expects conditions to remain difficult for the 2H of their FY and believes the downturn may last longer than perhaps consensus expectations. MSFT is managing its cost structure accordingly, reiterating its strategy to hold OPEX flat y/y at $27.5B in FY10, with CAPEX down y/y

Read more….

No comments:

Post a Comment