Sterne Agee Reiterates Buy Rating, $230 PT for IBM

In a company report published earlier today, Sterne Agee Group, Inc. reiterated its Buy rating and $230.00 price target for IBM Corporation

. Sterne Agee went on to say “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 Corporation closed yesterday at $189.20.