IBM (IBM) Risk Reward Looks Balanced Heading into Earnings, Bernstein Reiterates MP Rating

Bernstein analyst Toni Sacconaghi reiterated a Market Perform rating and $135.00 price target on IBM (NYSE: IBM) noting that IBM trades on revenue growth and the analyst sees little reason to expect upside in 4Q.

He stated "While IBM will benefit from the acquisition of Red Hat and the ramp of the z15 mainframe cycle, we expect these to be offset by continued weakness in the core business, particularly Global Technology Services".

For an analyst ratings summary and ratings history on IBM click here. For more ratings news on IBM click here.

Shares of IBM closed at $135.82 yesterday.

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