Microsoft Corp. (MSFT) — This worldwide provider of software operating systems and products has been in a bull market since June 1, when it broke from a spread triple-top and ran to more than $24.
On June 13, I said, “Since then, ‘Mr. Softie’ has succumbed to profit-taking and pulled back to $22 and its 50-day moving average, where it can be accumulated for long-term gains. Traders may also want to grab shares since the trading objective is $26.
“Standard and Poor’s ranks MSFT a ‘five-star buy’ with a 12-month price target of $29.”
I am raising both my near- and long-term objectives for MSFT to $29.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted at samailc@cox.net. You can also check out an archive of some of his most recent market outlooks.
