Morgan Stanley has an Overweight rating and a $32 price target on shares of Microsoft MSFT.
In a note to clients, Morgan Stanley writes, "We see four potential positive catalysts before Oct. which could drive the stock: (1) We should get a beta release of Win 8 in Sept., and we could see a 1H-2012 GA, which is earlier than cons. expects; (2) PC market comps ease in the Sept. Q; (3) we may get greater clarity on long-term operating targets at the Sept. analyst day; and (4) MSFT may more aggressively return capital. While all four catalysts may not
materialize, we feel comfortable that at least one or two will, and we expect the stock to anticipate the potential
regardless. We like the risk//reward at 7x EPS net cash."
Shares of MSFT lost 18 cents yesterday to close at $25.62, a loss of 0.7%.
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