Why Microsoft Stock Popped on Friday
Shares of Microsoft (NASDAQ: MSFT) inched 2.4% higher on Friday, through 11:25 a.m. ET, despite not one, not two, but three separate analysts deciding to lower their price targets on the tech giant ahead of its earnings report due out Tuesday.
Tic-tac-toe, three in a row: Cowen & Co., Evercore ISI, and Citigroup all lowered their price targets on Microsoft stock, as ratings watcher The Fly reports today. Granted, all three bankers continue to recommend buying Microsoft stock ahead of the earnings report (which is probably why the stock is rising today).
But here's the really curious part: Each of these bankers set Microsoft's new target price at $280 on the nose.
Source Fool.com
