New Buy Rating for IBM (IBM), the Technology Giant
In a report released today, Uwe Neumann from Credit Suisse initiated coverage with a Buy rating on IBM (IBM) and a price target of $173. The company’s shares closed yesterday at $143.02.
Neumann has an average return of 8.7% when recommending IBM.
According to TipRanks.com, Neumann is ranked #602 out of 5181 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IBM with a $147.88 average price target.
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Based on IBM’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $21.76 billion and net profit of $1.95 billion. In comparison, last year the company earned revenue of $19.07 billion and had a net profit of $1.68 billion.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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