MKM Partners Cut Estimates and Price Target of Microsoft (MSFT)
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.