DavidS
Anti-Tea Party Member
NEW YORK (AP) -- Microsoft Corp.'s shares could climb as much as 22 percent in the near term, an Oppenheimer & Co. analyst said Friday in a report on the software maker's 2009 earnings projections.
The analyst, Brad Reback, wrote to investors that based on conservative earnings projections for the coming calendar year, Microsoft's stock could jump as much as $4 from its $17.53 closing price Thursday.
In the worst case scenario, Reback said, shares could fall by $1. He raised his rating on Microsoft to "Outperform" from "Perform."
Reback pointed out that the high end of his price target would have Microsoft trading for only 10 times his $2.12 per share estimate for 2009. That estimate is roughly in line with analyst expectations, according to polling by Thomson Reuters.
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The analyst, Brad Reback, wrote to investors that based on conservative earnings projections for the coming calendar year, Microsoft's stock could jump as much as $4 from its $17.53 closing price Thursday.
In the worst case scenario, Reback said, shares could fall by $1. He raised his rating on Microsoft to "Outperform" from "Perform."
Reback pointed out that the high end of his price target would have Microsoft trading for only 10 times his $2.12 per share estimate for 2009. That estimate is roughly in line with analyst expectations, according to polling by Thomson Reuters.
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