Bank Of America Reiterates Buy Rating On Microsoft

According to Bank of America, Microsoft MSFT stock is indicated down ~1% in after market given a modest beat. Bank of America said that revs/EPS, while not exceptional, were reasonable at $17.4b/$0.57 (ex ~12c tax gain) vs. our est of $17.2b/$0.56 (cons at $17.3b/$0.57). “We reit Buy, $38 PO on ~13x C12E P/E, in-line with SPX.” Microsoft closed yesterday at $27.10.