Wolfe Research analyst Steven Milunovich initiated IBM with a Peer Perform and $130 price target saying unwieldy size has been the undoing of leaders and disruptive technology has disadvantaged incumbents.

Evercore ISI is adding IBM (IBM) to the firm's "Tactical Outperform" list ahead of the company's March-end quarter results announcement on Wednesday April 24 as it expects the company to report revenue and EPS that are in-line to showing moderate upside compared to consensus estimates. Though there have been concerns surrounding the potential for weakness in Consulting given softness at Accenture (ACN), Evercore thinks recent macro and IT spending data points have been improving and Consulting momentum should continue, says the firm, which hsa an Outperform rating and $215 price target on IBM shares.