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MSFT

Microsoft

$73.26

-1.15 (-1.55%)

08:29
09/26/17
09/26
08:29
09/26/17
08:29

Valuing Microsoft should shift to cash flow multiple, says Credit Suisse

Credit Suisse analyst Michael Nemeroff believes investors should begin to shift their framework for valuing Microsoft shares to a cash flow multiple as an increasing percentage of its business shifts to recurring sources of revenue. The analyst notes that Microsoft shares currently trade at a discounted cash flow multiple to its legacy/on-premise software peers, but he believes a premium multiple to this peer group is warranted given its prospects for accelerating top line growth and better cash flow visibility over the next few years. Nemeroff reiterates an Outperform rating and $84 price target on the shares.

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    Oct

MSFT Microsoft
$73.26

-1.15 (-1.55%)

09/20/17
STFL
09/20/17
NO CHANGE
Target $80
STFL
Buy
Microsoft weakness on dividend disappointment a buying opportunity, says Stifel
Stifel analyst Brad Reback noted that he expected Microsoft to raise its dividend by 10%-15%, in-line with its average annual rate of increase over the past 10 years, not the 7.6% by which the company increased it. The dividend news paired with the fact that G. Mason Morfit of ValueAct is leaving the board may put the stock under modest pressure, but if so he would view the pullback as a buying opportunity, he tells investors. Reback keeps a Buy rating and $80 price target on Microsoft shares.
09/11/17
WELS
09/11/17
NO CHANGE
WELS
Audience extension could drive LinkedIn budget share higher, says Wells Fargo
Wells Fargo analyst Peter Stabler notes that Microsoft LinkedIn is now distributing Sponsored Content ads via third-party sites and apps and ad exchanges. His checks with marketing developers suggest LinkedIn maintains low-single-digit share of social marketing budgets. Beta testing suggests "significant lift" in impression and click volumes, and Stabler believes audience extension could drive LinkedIn's budget share higher.
09/11/17
KEYB
09/11/17
NO CHANGE
Target $82
KEYB
Overweight
KeyBanc remains bullish on Microsoft on sustained cloud momentum
KayBanc analyst Brent Bracelin remains bullish on Microsoft as a core technology holding as the commercial cloud segment should reach critical mass in the coming year, exceeding a $20B run-rate, and free cash flow power could expand to $6 per share within four years. The analyst reiterates an Overweight rating and $82 price target on the shares.
09/07/17
OPCO
09/07/17
NO CHANGE
Target $80
OPCO
Outperform
Microsoft new accounting standards changes revenue timing, says Oppenheimer
Oppenheimer analyst Timothy Horan says Microsoft's adoption of new accounting standards changes the timing and recognition of revenue but not the underlying mechanics when calculating guidance methodology. Sales practices, customer billing and business strategy remain unaffected by the new accounting standards, he adds. Horan reiterates an Outperform rating and $80 price target on the shares.

TODAY'S FREE FLY STORIES

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NVS

Novartis

$85.74

-0.42 (-0.49%)

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BA

Boeing

$264.75

5.71 (2.20%)

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BAC

Bank of America

$27.17

0.59 (2.22%)

05:24
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ATHN

athenahealth

$126.04

9.63 (8.27%)

05:18
10/23/17
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Upgrade
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TATYY

Tate & Lyle

$33.23

-0.835 (-2.45%)

05:13
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RIO

Rio Tinto

$48.37

0.24 (0.50%)

05:12
10/23/17
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Rio Tinto rating change  »

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MELI

MercadoLibre

$235.73

-0.27 (-0.11%)

05:02
10/23/17
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BIIB

Biogen

$338.10

-4.32 (-1.26%)

04:59
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Initiation
Biogen initiated  »

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CELG

Celgene

$121.33

-14.63 (-10.76%)

04:56
10/23/17
10/23
04:56
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04:56
Downgrade
Celgene rating change  »

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ASOMY

ASOS

$74.28

1.5 (2.06%)

04:55
10/23/17
10/23
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Conference/Events
ASOS management to meet with JPMorgan »

Meetings to be held in…

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PAY

Verifone

$20.06

0.06 (0.30%)

04:55
10/23/17
10/23
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Conference/Events
Verifone management to meet with Jefferies »

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PLUG

Plug Power

$2.70

0.17 (6.72%)

04:55
10/23/17
10/23
04:55
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04:55
Conference/Events
Plug Power to host special shareholder meeting »

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DDAIF

Daimler AG

$80.57

-1.11 (-1.36%)

04:55
10/23/17
10/23
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Conference/Events
Daimler AG management to meet with JPMorgan »

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Chicago Fed National Activity Index Level to be reported at 08:30 »

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IVC

Invacare

$14.60

0.05 (0.34%)

04:55
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Conference/Events
Invacare management to meet with Sidoti »

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  • 23

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ALXN

Alexion

$139.02

-1.44 (-1.03%)

04:54
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BIVV

Bioverativ

$60.22

0.49 (0.82%)

04:52
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TSRO

Tesaro

$116.40

0.89 (0.77%)

04:50
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Tesaro rating change  »

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AMAG

Amag Pharmaceuticals

$15.60

-0.45 (-2.80%)

04:48
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Initiation
Amag Pharmaceuticals initiated  »

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