Microsoft price target lowered to $285 from $365 at Credit Suisse

Credit Suisse analyst Sami Badri lowered the firm’s price target on Microsoft to $285 from $365 and keeps an Outperform rating on the shares following quarterly results. While Microsoft reported revenue in-line and EPS below consensus, PBP and IC reported better than expected revenue results while MPC came in slightly behind, the firm notes. Most notably from the conference call was the emphasis on customers optimizing their IT environments, an extension from last quarter’s "doing more with less" commentary with IT, Credit Suisse says.