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Fly News Breaks for March 20, 2018
IBM
Mar 20, 2018 | 08:48 EDT
RBC Capital analyst Amit Daryanani keeps his Outperform rating and $180 price target on IBM, saying his meetings with the company's management during Day 1 of their user conference gave him confidence in IBM's position for revenue growth in 2018. Daryanani points to the management's view of better underlying trends in services and mainframe cycle, with the revenue of the latter poised to show secular rather than cyclical growth. The analyst adds that gross margins will likely stabilize in 2018 amid productivity initiatives and scale benefits.
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