Why Microsoft Stock Slumped by 5% on Thursday
No matter the how strong their business, software stocks as a group are taking a real clobbering these days. On Thursday this rout continued, and it claimed some of the biggest names in the segment. One was (NASDAQ: MSFT), which saw its shares decline by nearly 5% that trading session. The negative sentiment on software titles was exacerbated by an analyst's downgrade.
Well before market open that morning, Stifel's Brad Reback changed his recommendation on Microsoft stock. He's now convinced it's only a hold, where previously he had flagged it as a buy. This was accompanied by a significant price target reduction to $392 per share from $540.
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Source Fool.com
Microsoft Corp. Stock
€316.10
-0.830%
Currently there is a rather positive sentiment for Microsoft Corp. with 158 Buy predictions and 6 Sell predictions.
As a result the target price of 503 € shows a very positive potential of 59.13% compared to the current price of 316.1 € for Microsoft Corp..
