Microsoft: Jefferies rates as 'Underperform', ups target
(CercleFinance.com) - Jefferies reaffirms its 'Underperform' rating on Microsoft but raises its target price from 90 to 93 dollars, after quarterly results that were “strong [.
..] not only relative to conservative estimates (based on guidance), but regardless of expectations”.
The broker notes that total revenues increased by 14% excluding exchange differences, sustaining a solid free cash-flow situation. “While Azure margin continued to improve, we still question the long-term potential”, it cautions.
Jefferies adds that “Windows OEM revenue continued to outperform PC shipments to the developed regions of the world, though there was a benefit from inventory build this Q”.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
..] not only relative to conservative estimates (based on guidance), but regardless of expectations”.
The broker notes that total revenues increased by 14% excluding exchange differences, sustaining a solid free cash-flow situation. “While Azure margin continued to improve, we still question the long-term potential”, it cautions.
Jefferies adds that “Windows OEM revenue continued to outperform PC shipments to the developed regions of the world, though there was a benefit from inventory build this Q”.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.