IRNT - Jefferies cuts a wide swath; cuts price targets on more than two dozen software stocks

Analysts at Jefferies led by Brent Thill took an axe to the software sector, Monday, and cut the share-price targets of more than two dozen companies, including Microsoft (NASDAQ:MSFT), Oracle (NYSE:ORCL) and VMware (NYSE:VMW). In a research note, Thill said that the moves were being made to factors related to "stiffening economic headwinds and the risk of recession looming" over the economy. Other issues listed included companies with "high exposure" to European matters, deferred orders and those with a large presence among small-and-medium-sized businesses. Among the companies Jefferies assessed was Microsoft (MSFT), which was taken down to an estimate of $325 a share from $400. Thill said that Microsoft (MSFT) is in position to gain from more growth from the PC sector, but could see challenges if its transition to the cloud takes longer than anticipated and begins to weigh on its margins. Oracle (ORCL) had its target cut to

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Jefferies cuts a wide swath; cuts price targets on more than two dozen software stocks