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IBM

IBM

$164.21

-0.03 (-0.02%)

07:39
01/12/18
01/12
07:39
01/12/18
07:39

IBM price target raised to $175 from $170 at BMO Capital

BMO Capital analyst Keith Bachman raised his price target on IBM to $175, reiterating that the mainframe cycle and FX trends are beginning to improve. The analyst keeps his Market Perform rating based on valuations, but suggests that the December quarter estimates could prove to be conservative. Longer term, Bachman contends that the Systems segment could generate "durable growth" and the Cognitive business can grow operating profits this year.

  • 18

    Jan

IBM IBM
$164.21

-0.03 (-0.02%)

01/03/18
RBCM
01/03/18
UPGRADE
RBCM
Outperform
IBM upgraded to Outperform from Sector Perform at RBC Capital
01/03/18
RBCM
01/03/18
UPGRADE
Target $180
RBCM
Outperform
IBM upgraded to Outperform at RBC Capital on mainframe cycle and valuation
As reported earlier, RBC Capital analyst Amit Daryanani upgraded IBM to Outperform from Sector Perform and raised his price target to $180 from $160. Daryanani points to the benefits of the mainframe cycle upgrade, a favorable FX backdrop for the first time in 3 years, recovery in hybrid IT spending leading to 1%-3% revenue growth, and attractive 11-times PE valuation. The analyst adds that gross margins could stabilize in 2018 after an expected 130bps decline in 2017.
01/03/18
01/03/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Mills (GIS) upgraded to Neutral from Underweight at Piper Jaffray with analyst Michael Lavery saying he expects the company to use some of its tax reform benefit to increase "needed" brand investments. He sees the company posting 9%-10% average earnings growth over the next six quarters. 2. Ulta Beauty (ULTA) upgraded to Outperform from Market Perform at Wells Fargo with analyst Ike Boruchow saying he sees "compelling setup" for the shares in 2018 given the company's "material" tax benefit and potential for fundamental stabilization. 3. IBM (IBM) upgraded to Outperform from Sector Perform at RBC Capital with analyst Amit Daryanani citing the benefits of the mainframe cycle upgrade, a favorable FX backdrop for the first time in 3 years, recovery in hybrid IT spending leading to 1%-3% revenue growth, and attractive 11-times PE valuation. 4. Oracle (ORCL) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Keith Weiss arguing that its current low valuation with cloud expectations diminished following its last three earnings reports presents "a tactical opportunity for old fashioned earnings growth to drive the shares higher." 5. United Technologies (UTX) upgraded to Outperform from Sector Perform at RBC Capital analyst Deane Dray saying 2018 will mark the final year of margin pressure at the company's Pratt and Otis units which led to the recent underperformance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/12/18
BERN
01/12/18
NO CHANGE
Target $150
BERN
Market Perform
IBM CFO change seems to be 'business as usual,' says Bernstein
After IBM disclosed that CFO Martin Schroeter would be assuming a new role and that Jim Kavanaugh would take over as CFO, Bernstein analyst Toni Sacconaghi, Jr. acknowledged the timing "appears somewhat abrupt," but he sees the move as "business as usual" and not a worrisome development. There is precedent for an IBM CFO changing roles and the timing of the moves is consistent with historical executive rotations at IBM, Sacconaghi, Jr. tells investors. He maintains a Market Perform rating and $150 price target on IBM shares.

TODAY'S FREE FLY STORIES

EPE

EP Energy

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0.17 (7.36%)

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BRSS

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7.12 (3.23%)

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T

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DIS

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CMCSK

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4.2 (1.15%)

ATUS

Altice USA

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0.6 (2.82%)

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NFLX

Netflix

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7.12 (3.23%)

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BIVV

Bioverativ

$103.79

39.68 (61.89%)

, SNY

Sanofi

$43.20

-1.4 (-3.14%)

18:15
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18:15
Downgrade
Bioverativ, Sanofi rating change  »

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BIVV

Bioverativ

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SNY

Sanofi

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ECR

Eclipse Resources

$2.33

0.05 (2.19%)

18:12
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NFLX

Netflix

$227.58

7.12 (3.23%)

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STLD

Steel Dynamics

$46.57

0.15 (0.32%)

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  • 23

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STLD

Steel Dynamics

$46.57

0.15 (0.32%)

18:04
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Steel Dynamics reports Q4 EPS 54c excluding items, consensus 52c »

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  • 23

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IMI

Intermolecular

$1.61

0.14 (9.52%)

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EXFO

EXFO Inc.

$4.35

-0.05 (-1.14%)

, CHL

China Mobile

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EXFO Inc.

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CHL

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CE

Celanese

$111.12

-1.84 (-1.63%)

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SFNC

Simmons First National

$59.50

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  • 23

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WHR

Whirlpool

$166.65

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, SSNLF

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SSNLF

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AMBC

Ambac Financial

$16.02

0.07 (0.44%)

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Ambac Financial announces approval of plan amendment »

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STML

Stemline

$14.25

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  • 24

    Jan

EFSC

Enterprise Financial

$47.70

-0.025 (-0.05%)

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  • 23

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RARE

Ultragenyx

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FDEF

First Defiance Financial

$53.79

-0.77 (-1.41%)

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  • 23

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SJR

Shaw Communications

$21.78

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EPIX

ESSA Pharma

$0.22

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  • 29

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WRLD

World Acceptance

$87.87

2.42 (2.83%)

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CFPB completes investigation in World Acceptance, will not recommend action »

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  • 26

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17:20
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Conference/Events
CFA Society of New York to hold a discussion »

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RBB

RBB Bancorp

$26.97

0.09 (0.33%)

17:19
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Earnings
RBB Bancorp reports Q4 EPS with items 29c, consensus 39c »

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  • 23

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