RBC Capital analyst Amit Daryanani weighed in on International Business Machines Corp. (NYSE:IBM) following the company’s slight revenue upside in the June quarter. The analyst maintains a Hold rating and raises his IBM price target from $155 to $165.

Daryanani explains that “Given concerns around Brexit implications, & tough H2:16 set-up,” it is important to remain cautious when it comes to investing in IBM near-term.

According to TipRanks, Powers has a 55% success rate recommending stocks with an average annual return of 1.1% per recommendation.