Bank of America raises International Business Machines (NYSE:IBM) price target to $165.00


International Business Machinery (New York Stock Exchange: IBMGet a rating) saw its target price increased by financial analysts to Bank of America from $162.00 to $165.00 in a report released Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on shares of the technology company. Bank of AmericaThe target price of would suggest a potential upside of 27.76% from the company’s current price.

Several other equity research analysts have also published reports on IBM. Zacks Investment Research downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a price target of $140.00 for the stock. in a report on Tuesday, April 5. Goldman Sachs Group began covering shares of International Business Machines in a research note on Sunday, January 9. They set a “neutral” rating and a target price of $140.00 on the stock. Morgan Stanley raised its price target on International Business Machines from $150.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com began covering International Business Machines in a research report on Thursday, March 31. They set a “buy” rating on the stock. Finally, Credit Suisse Group raised its price target on shares of International Business Machines from $165.00 to $166.00 and gave the stock an “outperform” rating in a research report on Wednesday. One financial analyst has assigned the stock a sell rating, five have assigned a hold rating and seven have assigned the stock a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $147.33.

NYSEIBM opened at $129.15 on Wednesday. International Business Machines has a fifty-two week low of $114.56 and a fifty-two week high of $152.84. The company has a fifty-day moving average price of $127.27 and a two-hundred-day moving average price of $128.74. The company has a debt ratio of 2.36, a current ratio of 0.88 and a quick ratio of 0.83. The stock has a market capitalization of $116.15 billion, a PE ratio of 20.34, a PEG ratio of 1.16 and a beta of 1.10.

International Business Machinery (New York Stock Exchange: IBMGet a rating) last reported its quarterly earnings data on Tuesday, April 19. The technology company reported earnings per share of $1.40 for the quarter, beating the consensus estimate of $1.38 by $0.02. International Business Machines had a return on equity of 42.49% and a net margin of 8.11%. The company posted revenue of $14.20 billion in the quarter, versus a consensus estimate of $13.84 billion. During the same period of the previous year, the company achieved EPS of $1.77. International Business Machines revenue for the quarter increased 7.7% year on year. As a group, sell-side analysts expect International Business Machines to post earnings per share of 10.09 for the current year.

Several institutional investors have recently bought and sold IBM shares. BlackRock Inc. increased its stake in shares of International Business Machines by 1.4% in the fourth quarter. BlackRock Inc. now owns 65,452,374 shares of the technology company valued at $8,748,364,000 after acquiring 924,180 additional shares last quarter. State Street Corp increased its stake in International Business Machines by 3.3% in the fourth quarter. State Street Corp now owns 53,048,681 shares of the technology company valued at $7,090,487,000 after buying an additional 1,687,122 shares last quarter. Charles Schwab Investment Management Inc. increased its holdings of International Business Machines shares by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,192,375 shares of the technology company valued at $2,030,611,000 after purchasing an additional 951,417 shares during the period. Geode Capital Management LLC increased its position in International Business Machines shares by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 15,018,006 shares of the technology company worth $2,001,895,000 after buying 261,118 additional shares last quarter. Finally, Norges Bank acquired a new equity stake in International Business Machines in Q4 valued at approximately $1,025,028,000. Hedge funds and other institutional investors hold 54.91% of the company’s shares.

About International Trade Machines (Get a rating)

International Business Machines Corporation provides integrated solutions and services worldwide. The Company operates through four business segments: Software, Consulting, Infrastructure and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open source solution; enterprise automation software, AIOps and management, integration and application servers; data and artificial intelligence solutions; and security software and services for threats, data and identity.

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