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Fly News Breaks for August 26, 2015
IBM
Aug 26, 2015 | 08:40 EDT
As previously reported, Argus upgraded IBM to Buy from Hold primarily based on its attractive valuation following the non-fundamental weakness seen in the stock during the recent market pullback. The firm also noted that the company should face easier comparisons in coming quarters and that its earnings quality should improve as due to its sale of commodity-like assets. Argus set a price target of $175 on IBM shares, which are up 2.4% to $144.50 in pre-market trading.
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