I'm hearing (and have it confirmed) that UBS is out with call on Microsoft (NASDAQ:MSFT) saying the co could be preparing for a $20B stock buyback, one that would be completed over the next three months.
The firm recommends buying the stock now as the company is unlikely to make an announcement until the buyback has been completed. UBS thinks MSFT shares could reach $40 in the next year.
Notablecalls: I see some buy interest in MSFT here in pre mkt.
$40 target sure sounds huge. But on the other hand, UBS research has been so-so lately.