IBM Gets Price Target Cuts By Analysts Following Q1 Results

IBM IBM posted better-than-expected earnings for its first quarter, while sales missed expectations.

IBM posted quarterly earnings of $1.36 per share, beating analysts’ estimates of $1.26 per share. The company’s quarterly sales came in at $14.25 billion, versus expectations of $14.35 billion.

IBM shares gained 3.2% to $130.32 on Thursday.

These analysts made changes to their price targets on IBM following earnings announcement.

• Morgan Stanley cut the price target on IBM from $143 to $135. Morgan Stanley analyst Eric Woodring maintained an Equal-Weight rating.
• Stifel lowered the price target on IBM from $150 to $140. Stifel analyst David Grossman maintained a Buy rating.
• Evercore ISI Group cut the price target on IBM from $150 to $140. Evercore ISI Group analyst Amit Daryanani maintained the stock with an In-Line rating.

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