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IBM

IBM

$139.29

-1.31 (-0.93%)

, RHT

Red Hat

$189.00

1.29 (0.69%)

14:20
07/09/19
07/09
14:20
07/09/19
14:20

Red Hat closing probably earlier than most expected, says Stifel

Stifel analyst David Grossman said IBM's (IBM) closing of its Red Hat (RHT) acquisition probably came earlier than most expected, adding that IBM will report standalone Q2 results next week, on July 17, and than will provide an update including Red Hat on a webcast scheduled for August 2. IBM is set up as a defensive holding with two potential catalysts, namely continued improvement in its core infrastructure services business and demonstrated success in leveraging Red Hat, said Grossman, who keeps a Buy rating and $169 price target on IBM shares.

IBM

IBM

$139.29

-1.31 (-0.93%)

RHT

Red Hat

$189.00

1.29 (0.69%)

  • 09

    Jul

IBM IBM
$139.29

-1.31 (-0.93%)

06/06/19
EVER
06/06/19
INITIATION
Target $150
EVER
Outperform
IBM's Red Hat deal has potential to be 'transformational,' says Evercore ISI
Evercore ISI analyst Amit Daryanani started IBM with an Outperform rating and $150 price target. While IBM stock will likely be range bound near-term, as investors remain on the sidelines until they have better understanding of IBM's financial profile post close of the Red Hat acquisition, the analyst says his positive stance is based on his favorable view of the deal, which he says has the potential to be transformational as it significantly broadens IBM's capabilities and customer reach. Ultimately, Daryanani says how the IBM stock will perform post-deal close hinges on IBM management's ability to successfully generate value from the deal through combining Red Hat's offerings with IBM's own products and services delivery scale.
06/06/19
DADA
06/06/19
NO CHANGE
Target $9
DADA
Buy
Cloudera price target lowered to $9 from $23 at DA Davidson
DA Davidson analyst Rishi Jaluria lowered his price target on Cloudera (CLDR) to $9 after its "disastrous" quarter with a reset of the company's recurring revenue expectations, resignation of its CEO, and weak bookings, as customers await the release of Cloudera Data Platform, or CDP. The analyst also points to Cloudera's higher churn, and increased competitiveness from Amazon's (AMZN) AWS, Microsoft's (MSFT) Azure, and Google's (GOOGL) GCP impacting the quarter. Jaluria cuts his FY21 EPS view to (19c) from 22c but maintains his Buy rating on Cloudera, citing his "glimmer of hope" that the company can reaccelerate growth with CDP or that either a private equity firm or IBM (IBM) would acquire it given the reduced 1.8-times enterprise value to expected 2020 revenue valuation.
06/21/19
WBLR
06/21/19
DOWNGRADE
WBLR
Market Perform
Red Hat downgraded to Market Perform from Outperform at William Blair
William Blair analyst Jason Ader downgraded Red Hat (RHT) to Market Perform from Outperform citing the nearing of the takeover by IBM (IBM).
06/21/19
NEED
06/21/19
NO CHANGE
NEED
Hold
Red Hat acquisition by IBM 'well on track', says Needham
Needham analyst Jack Andrews kept his Hold rating on Red Hat (RHT) after its Q1 earnings beat that was helped in part by the tax benefits from merger-related costs, saying the company's growth in its Infrastructure business has remained strong and its large-deal metrics were "solid". The analyst notes that while the company made no further updates on its pending IBM (IBM) acquisition, its recent approval by the DOJ and speculation of "unconditional" approval by E.U. regulators suggest that the completion of the deal remains "well on track".
RHT Red Hat
$189.00

1.29 (0.69%)

04/11/19
FBCO
04/11/19
INITIATION
Target $173
FBCO
Outperform
IBM initiated with an Outperform at Credit Suisse
Credit Suisse analyst Matt Cabral initiated IBM (IBM) with an Outperform rating and a price target of $173. The analyst cites the impact of the company's pending Red Hat (RHT) acquisition generating synergies while bringing together the industry expertise and incumbency to "help customers move to hybrid". Cabral adds that while IBM has sustainable free cash flow of about $12B ex-Red Hat, he expects the deal to be cash flow accretive in the first year, becoming the company's "main driver of growth".
04/17/19
BMOC
04/17/19
NO CHANGE
Target $155
BMOC
Market Perform
IBM price target raised to $155 from $147 at BMO Capital
BMO Capital analyst Keith Bachman raised his price target on IBM (IBM) to $155 after its Q1 results and affirmed FY19 outlook, saying he is modeling a "modestly higher" enterprise value to free cash flow multiple with a higher conviction to his prior forecasts for 2020 free cash flow. The analyst is also keeping his Market Perform rating on the shares, stating that while the quarter had "a lot of moving parts", revenues were "a tad disappointing" amid some weakness in emerging markets. Bachman contends that IBM is moving in the right direction with its Red Hat (RHT) acquisition, but he does not find the valuation on the stock "compelling".

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