Morgan Stanley is out with its report today on Microsoft MSFT, maintaining Overweight.
In a note to clients, Morgan Stanley writes, "We continue to believe investors should own MSFT for several converging factors in CY2011: 1) a strong corporate refresh and server cycle in Win 7, 2008 R2 and Office 2010 2) cost controls yielding margin expansion, 3) call options on a few large markets in search, mobile and cloud and 4) accretion from buybacks or improving yields."
Morgan Stanley maintains a $32 PT on MSFT.
At the time of posting, shares of MSFT were trading pre-market at $25.76, up 0.59% from Monday's close.
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