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Nomura Maintains “Buy” on Microsoft; PC Demand Better-than-Expected (MSFT)

By Dividend.com,  April 12, 2012, 09:04:49 AM EDT

Software giant Microsoft Corporation ( MSFT ) caught some positive commentary from analysts at Nomura Securities.

The firm maintained its "Buy" rating and $37 price target on MSFT, suggesting a 22% upside to the stock's Wednesday closing price of $30.34.

A Nomura analyst commented, "After the close, Gartner announced its preliminary PC market results for 1Q 12, measuring sell-in for the top-5 PC OEMs. Worldwide PC shipment growth of 1.9% y/y (-6.7% q/q) was above Gartner's most recent expectations of down 1.2%. Better-than-expected shipments in EMEA and less of an impact from HDD shortages drove the results. However, the quarter benefitted from inventory building after some possible supply constraints in the December quarter, so actual end-demand is likely still poor ahead of the upcoming release of Ivy Bridge and Windows 8. This is a small positive for MSFT, yet end-demand for PCs is still weak."

Microsoft shares, which have gained nearly 17% year-to-date, posted modest gains in premarket trading Thursday.

The Bottom Line
Shares of Microsoft ( MSFT ) have a 2.64% dividend yield, based on last night's closing stock price of $30.35. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $32-$33 price levels.

Microsoft Corporation ( MSFT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: MSFT



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