Market Overview

UPDATE: Jefferies Lowers PT on International Business Machines on Multiple Challenges Ahead

Share:
Related IBM
Stanley Druckenmiller On Buffett And IBM: 'One Of Us Will Be Right And One Of Us Will Be Wrong'
Warren Buffett: Strong Dollar Makes For 'Tough Year' In 2015
10 big tech stocks that climbed back from the dot-com crash (Investor's Business Daily)

In a report published Monday, Jefferies analyst Peter Misek reiterated a Hold rating on International Business Machines (NYSE: IBM), but lowered the price target from $225.00 to $210.00.

In the report, Jefferies noted, “We think a pause in enterprise spending affected many of our companies' Q2 results and bookings. We trim our estimates and target on IBM as we expect weak services bookings, a tough environment for software, and a delayed System x sale to lead to lowered guidance. We think EMC's Q2 will be inline to slightly below expectations but see a strong H2 ramp. We believe Allot had a solid quarter with strong bookings.”

International Business Machines closed on Friday at $192.80.

Latest Ratings for IBM

DateFirmActionFromTo
Mar 2015Atlantic EquitiesDowngradesNeutralUnderweight
Jan 2015Deutsche BankMaintainsHold
Jan 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for IBM
View the Latest Analyst Ratings

Posted-In: Jefferies Peter MisekAnalyst Color Price Target Analyst Ratings

 

Related Articles (IBM)

Around the Web, We're Loving...

Get Benzinga's Newsletters