Salomon downgrade investment rating and profit forecast of Microsoft

Last Friday, Salomon Smith Barney downgraded investment rating of Microsoft Corp (4338) from ˇ§holdingˇ¨ to ˇ§leading the marketˇ¨ and 12-month target price was downgraded from US$85 to US$75 due to profit warning issued by Microsoft last Friday. Salomon Smith Barney also downgraded profit forecast of Microsoft of the year from US$1.93 each to US$1.84 each. Last Friday, Microsoft closed at US$69.18, off US$3.39, or 4.67%.

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