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Fly News Breaks for January 15, 2019
IBM
Jan 15, 2019 | 07:15 EDT
Nomura Instinet analyst Jeffrey Kvaal lowered his price target for IBM to $160 from $170 but keeps a Buy rating on the shares. The analyst reduced his estimates and price target to reflect unfavorable currency shifts. However, he expects IBM's Q4 to offer "stronger growth" in Strategic Imperatives, a Transaction Processing recovery, and a return to billings growth. IBM is Kvaal's preferred tech defensive play given its "high annuity revenue, a likely return to sales growth, and a low valuation."
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