Wall Street analysts’ views
So far in this series, we’ve analyzed the impact of President Donald Trump’s tax holiday plan on technology industry that boasts of players like Apple, Amazon and Microsoft to name a few. We also discussed Microsoft’s (MSFT) value proposition in the US software industry and compared its forward dividend yield with Oracle’s (ORCL) and IBM’s.
Microsoft’s price performance
As of October 27, 2017, Microsoft’s stock price had risen ~6% in the past month. Microsoft stock usually rises prior to its fiscal earnings announcement and continues to rise after the announcement if the company exceeds analysts’ expectations. During the past year, it has returned ~40% to investors.
Analysts’ consensus target price for Microsoft was $81.83 per share on October 19, 2017, and the median target price was $84. In pre-market hours, Microsoft’s closing price was $83.81 on October 30, 3017. Canaccord Genuity has upgraded its rating for the stock from “hold” to “buy.”