Fresh analyst downgrade burdens Microsoft’s stock
Microsoft’s long languishing stock today received a fresh blow in the form of a very public downgrade by Davenport & Co. analyst F. Drake Johnstone. Not only did Mr. Johnstone move Microsoft from a ‘buy’ to a ‘hold,’ he removed his share price target, and cut his forecasts for the company’s coming fiscal 2012. The reason for his downgrade? The PC market. After weak earnings in regards to PC sales from the likes of HP and Dell, Davenport & Co....