Cantor Fitzgerald analyst Joseph Foresi maintained a Hold rating on IBM (IBM) today and set a price target of $140. The company’s shares opened today at $121.62.
Foresi noted:
“: We maintain our Neutral rating on IBM and our 12-month PT of $140*. It is almost Red Hat time, with the acquisition expected to close in 2H19 (Click here for note). We believe investor focus this quarter will be on whatever information it can gleam about Red Hat and recent divestitures, performance of the Strategic Imperatives, margin momentum, and 2019 outlook. IBM’s faster-growing Strategic Imperatives’ (SI) revenue growth decelerated in 3Q18, as all segments moderated. The SI has been offsetting continued declines in the rest of the business, and if IBM can maintain double-digit growth in these revenues, the inflection point for a return to sustained overall growth could be near.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 16.3% and a 70.4% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on IBM is a Moderate Buy with an average price target of $157.08.
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IBM’s market cap is currently $110.6B and has a P/E ratio of 19.57. The company has a Price to Book ratio of 5.59.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IBM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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