Analysts: Microsoft’s Multiple Will Increase and 3 More Research Notes to Explore
Microsoft (NASDAQ:MSFT): Citing the company’s better than expected Q3 results, a push by activist investor ValueAct to return more cash to investors, and potential strategic alternatives, Oppenheimer expects Microsoft’s multiple to increase over the longer term, and keeps an Outperform rating on the shares.
Abercrombie & Fitch (NYSE:ANF): Bank of America/Merrill Lynch has upgraded Abercrombie, as the firm believes earnings growth will be driven by cost cutting initiatives and comp acceleration that should drive valuation. It rates the shares at Buy, up from Neutral, with a price target of $60.
Campbell Soup (NYSE:CPB): Goldman is confident that July 24, the company’s analyst day, will increase confidence in investors, and that recent management meetings increases its confidence that Campbell’s Soup’s long-term targets are on track. It keeps the shares rated at Buy with a $50 price target.
Biogen (NASDAQ:BIIB): RBC Capital believes that Biogen will benefit from massive Tecfidera earnings leverage, adding that the stock could move towards $300 per share if any of the company’s drugs undergoing Phase II and Phase III studies work. The firm has increased its price target on the stock to $275 from $235, and keeps an Outperform rating on the shares.
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