Wells Fargo Sees Limited Price Appreciation For IBM
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
|Jan 2017||Guggenheim||Initiates Coverage On||Neutral|
|Nov 2016||Bank of America||Upgrades||Neutral||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.