3/17/2010-Citigroup maintained its Buy rating on Microsoft (NASDAQ:MSFT) and raised its price target to $32 from $31 after a visit to the Microsoft campus.
Analyst Walter H. Pritchard said, "We still believe there is upside to numbers, and we are raising our FY11 EPS based on recent OpEx guidance. Our price target increases to $32 to reflect the increase. We still expect the biggest driver of upside would be the degree to which enterprise spending returns to previous levels. "
The bank expects the software giant to report 2010 EPS of $2.05, versus consensus estimates of $2.01.
In addition, the bank raised its 2011 EPS estimate from $2.22 to $2.26, versus consensus estimates of $2.22.
Keywords: Microsoft Citigroup Target rating
Ticker(s): MSFT
