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Wells Fargo Sees Limited Price Appreciation For IBM

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International Business Machines Corp. (NYSE: IBM) on Monday reported its third quarter 2014 earnings.

IBM reported EPS of $3.68, missing Street estimates by 14.81 percent and reported revenue of $22.4 billion, missing estimates by $970 million.

Following the downbeat earnings, shares of IBM closed Monday’s session down 7.11 percent.

Wells Fargo analysts stated, "we believe its premium valuation relative to peers and inline with S&P 500 limits potential for significant price appreciation relative to the overall market."

Moreover, Bank of America analysts find that IBM shares are fairly priced as well.

Latest Ratings for IBM

DateFirmActionFromTo
Nov 2016Bank of AmericaUpgradesNeutralBuy
Oct 2016Goldman SachsMaintainsNeutral
Oct 2016CitigroupMaintainsNeutral

View More Analyst Ratings for IBM
View the Latest Analyst Ratings

Posted-In: Bank of America Wells FargoAnalyst Color Earnings Analyst Ratings

 

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