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Microsoft Cut From Goldman Buy List on Mobile Weakness

Goldman Sachs Group Inc. analysts cut Microsoft Corp. shares to “neutral,” citing the world’s largest software company’s struggles to gain market share in mobile devices.

Microsoft was removed from the bank’s Americas Buy List, with a price target of $28 rather than $32, Goldman Sachs analysts including Sarah Friar wrote in a note to clients. The company needs to win “a firmer foothold in the growing migration to mobile devices” in order to improve investor sentiment, they wrote.