Morgan Stanley Sees International Business Machines In Early Stages Of Transition - IBM (NYSE:IBM)

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In a report published Friday, Morgan Stanley analyst Katy L. Huberty reiterated an Equal-Weight rating on

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International Business Machines

(NYSE: IBM).In the report, Morgan Stanley noted, “IBM is in the early stages of transitioning its portfolio for the cloud computing era. We view reaching 15% of cloud revenue mix, up from 4% in 2013, as a key inflection point for share performance. Near-term, we expect another mixed quarter, with potential reprieve later this year or early 2015.”International Business Machines closed on Thursday at $187.70.