Credit Suisse Sticks to Their Buy Rating for International Business Machines Corporation (IBM)
Credit Suisse analyst Matthew Cabral maintained a Buy rating on International Business Machines Corporation (IBM) today and set a price target of $173. The company’s shares opened today at $149.68, close to its 52-week high of $154.36.
According to TipRanks.com, Cabral is a 3-star analyst with an average return of 8.5% and a 81.3% success rate. Cabral covers the Consumer Goods sector, focusing on stocks such as Pure Storage Inc, Apple Inc, and NetApp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for International Business Machines Corporation with a $161.38 average price target, a 7.8% upside from current levels. In a report issued on July 9, Evercore ISI also reiterated a Buy rating on the stock with a $150 price target.
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Based on International Business Machines Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.16 billion and net profit of $2.5 billion. In comparison, last year the company earned revenue of $20 billion and had a net profit of $2.4 billion.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.
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