Market Overview

UPDATE: Deutsche Bank Raises PT to $240 on International Business Machines on Near-Term Outlook

Share:
Related IBM
You Know SaaS, But What Is PaaS?
BTIG Previews Workday's Q2 Results, Comments On IBM Deal
Edward Lampert Adds — Companies to Portfolio in —nd Quarter (GuruFocus)

Deutsche Bank reiterated its Buy rating on International Business Machines (NYSE: IBM) and raised its price target from $225 to $240.

Deutsche Bank commented, "IBM's recently refreshed mainframe and a POWER7+ server refresh in early October should support re-accelerating hardware growth in the near term. The HW refresh should also drive improving growth in Services and Software revenue (5-6% growth historically over past 5 cycles) and drive improving margins. We believe these factors are not reflected in consensus estimates and we raise our FY13 EPS est to $17 (vs. prior $16.60 and raise our PT to $240. With IBM currently trading at 13x FY13E we view shares as attractively valued."

International Business Machines closed at $207.45 on Friday.

Latest Ratings for IBM

DateFirmActionFromTo
Aug 2016OppenheimerInitiates Coverage onPerform
Jul 2016Standpoint ResearchDowngradesBuyHold
Jul 2016BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for IBM
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (IBM)

View Comments and Join the Discussion!