In a report published Monday, BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on International Business Machines IBM, but lowered the price target from $220.00 to $215.00.
In the report, BMO Capital Markets noted, “We believe that IBM's weak revenue growth will continue to weigh on the stock. Given our expectation for continued weak revenue growth, we expect IBM stock to remain range bound. Even after adjusting our revenue estimate for the inclusion of recent M&A (approximately $200 million in 2HCY13), our revenue expectations remain below consensus.”
International Business Machines closed on Friday at $192.07.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
