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Microsoft dips in pre-open amid analyst downgrade | |
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| Time: 12:56 EST/17:56 GMT | News Source: CBS Marketwatch | Posted By: Robert Stein | ||
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Microsoft (MSFT) is trading down 15 cents at $55.70 after Analyst Rich Scocozza at Raymond James downgraded the software giant's stock to "market perform" from "outperform," given the stock has appreciated above his $55 price target. Scocozza believes further upside may be limited by pressure on Microsoft's earnings outlook, which may be pressured by a continued tough information technology spending environment, slow PC sales growth and the lack of major new product releases. | ||
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