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Fly News Breaks for October 17, 2018
IBM
Oct 17, 2018 | 07:30 EDT
Nomura Instinet analyst Jeffrey Kvaal says that while IBM's "modest" Q3 sales miss is aggravated by weakness in growth engines cloud and analytics, he sees see signs that its underlying sales trends "remain healthy" and gross margins appear "sustainably stronger." Further, IBM is on track for its 2018 earnings and free cash flow goals, Kvaal tells investors in a post-earnings research note titled "A Step Sideways." The analyst keeps a Buy rating on the shares with a $170 price target.
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