Market Overview

UPDATE: Topeka Capital Markets Initiates International Business Machines at Buy on 2013 Outlook

Share:
Related IBM
Have You Made These Costly Investing Mistakes?
IBM Expands Storage Software to Help Companies Meet Hybrid Cloud Requirements
Conservative Total Return Portfolio- Bends But Doesn't Break! (Seeking Alpha)

Topeka Capital Markets initiated coverage on International Business Machines (NYSE: IBM) with a Buy rating and a $245 price target.

Topeka Capital Markets noted, "Although we expect relatively modest IT spending growth in 2013, we believe IBM's portfolio plays into the key secular IT trends such cloud computing, Big Data and the broader trend toward analytics with broader portfolio of solutions. Also, challenges at competitors such as Hewlett-Packard (HPQ-$14.43: Sell) may open up incremental opportunities for IBM next year. Given our view of the secular trends and changes in the IT world, we view IBM as a core holding for investors in the technology sector going into 2013."

International Business Machines closed at $194.77 on Thursday.

Latest Ratings for IBM

DateFirmActionFromTo
Aug 2015Argus ResearchUpgradesHoldBuy
Mar 2015Atlantic EquitiesDowngradesNeutralUnderweight
Jan 2015CitigroupMaintainsNeutral

View More Analyst Ratings for IBM
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (IBM)

View Comments and Join the Discussion!

Get Benzinga's Newsletters