Cantor Fitzgerald analyst Joseph Foresi maintained a Hold rating on IBM (NYSE: IBM) today and set a price target of $152. The company’s shares opened today at $146.65.
Foresi noted:
“: We maintain our Neutral rating on IBM and our 12-month PT of $152 following an investor webcast on IBM’s Security segment, which is part of a series. IBM’s Security segment is showing strong growth, selling into a large and expanding market. A potential key competitive advantage of IBM’s Security offering is its use of AI/Watson capabilities. We view a return to consistent organic growth and margin expansion as necessary for sustainable multiple expansion for IBM from present levels. We await better visibility on the company’s ability to consistently grow the business and scale margins.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 20.0% and a 87.7% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
IBM has an analyst consensus of Moderate Buy, with a price target consensus of $182.86.
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IBM’s market cap is currently $134.3B and has a P/E ratio of 24.11. The company has a Price to Book ratio of 7.40.
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