Market Overview

UPDATE: UBS Investment Research Initiates International Business Machines with Neutral, $205 PT on Full Valuation

Related IBM
How Europe's Pending E-Privacy Law Could Set Back The Continent's Digital Economy
Server Market Sizzles In Q1, Better Prospects Ahead In 2018
Digital Realty: The One Tech Company Everyone Should Have In Their Portfolio (Seeking Alpha)

UBS Investment Research initiated its coverage on International Business Machines (NYSE: IBM) with a Buy rating and a price target of $205.

UBS Investment Research commented, "IBM is the only computer company to succeed in non-consecutive tech waves thanks to its excellent strategy and renewed thought leadership. Management shifted revenue from hardware to services to software while jettisoning commoditizing businesses. … We expect the stock to rest following its substantial outperformance. IBM sells at the upper end of the EV/FCF range relative to the group and its history. Also, our DCF indicates that the price already discounts margin expansion."

International Business Machines closed at $186.26 on Tuesday.

Latest Ratings for IBM

Jan 2018BarclaysUpgradesUnderweightOverweight
Jan 2018RBC CapitalUpgradesSector PerformOutperform
Oct 2017Pivotal ResearchInitiates Coverage OnBuy

View More Analyst Ratings for IBM
View the Latest Analyst Ratings

Posted-In: UBS Investment ResearchAnalyst Color Price Target Initiation Intraday Update Analyst Ratings


Related Articles (IBM)

View Comments and Join the Discussion!