Barclays Capital analyst Israel Hernandez this morning reiterated his Buy rating on Microsoft (MSFT), but� trimmed his target price on the stock to $32, from $35, citing “increasing competitive concerns” in smartphones and tablets.
“While we see little risk to estimates given various enterprise product cycles, we believe multiple may remain under pressure as investors assess potential long term share implications as emerging computing platforms from Apple and Google gain momentum,” he writes in a research note.
MSFT today is off 11 cents, or 0.4%, to $25.89.
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