On Wednesday analysts at MKM Partners reduced the estimates and cut the price target of tech giant Microsoft Corporation (MSFT) due to a lack of demand of Windows 8 Surface.
Shares of MSFT are now seen reaching $28 at MKM. The new price target is a +6% upside from Tuesday’s closing price of $26.37.
Microsoft shares were up 8 cents, or +0.30%, in premarket trading.
The Bottom Line
Shares of Microsoft (MSFT) have a 3.48% dividend yield, based on last night’s closing stock price of $26.37. The stock has technical support in the $24-$25 price area. If the shares can firm up, we see overhead resistance around the $28-$30 price levels.
Microsoft Corporation (MSFT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.