IBM (NYSE: IBM)‘s stock had its “buy” rating reiterated by investment analysts at Sterne Agee in a note issued to investors on Wednesday. They currently have a $230.00 target price on the stock.
The analysts wrote, “We are trimming our revenue forecast due to the stronger dollar and a weaker Europe. However, we maintain our above consensus EPS due to our checks indicating more focus on higher-margin and faster payback software from its sales force and partners. We continue to believe IBM is among the best plays (if not the best) in the enterprise space given its lead in analytics, big data, and cloud.”
IBM traded up 2.21% on Wednesday, hitting $193.3882. IBM has a 52-week low of $157.13 and a 52-week high of $210.69. The company has a market cap of $223.1 billion and a price-to-earnings ratio of 14.11.
IBM last posted its quarterly earnings results on Tuesday, April 17th. The company reported $2.78 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.63 by $0.15. The company’s quarterly revenue was up .4% on a year-over-year basis. Analysts expect that IBM will post $3.63 EPS next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of IBM in a research note to investors on Tuesday, May 22nd. They now have a $208.00 price target on the stock. Separately, analysts at Barclays Capital (NYSE: BCS) reiterated an “equalweight” rating on shares of IBM in a research note to investors on Monday, May 7th. Finally, analysts at RBC Capital (NYSE: RY) raised their price target on shares of IBM from $200.00 to $215.00 in a research note to investors on Wednesday, April 18th. They now have a “sector perform” rating on the stock.
International Business Machines Corporation (IBM) is an information technology (IT) company. IBM’s segments include Global Technology Services (GTS), Global Business Services (GBS), Software, Systems and Technology and Global Financing.
