IBM (IBM) Touts RedHat Cross Selling Opportunity at KeyBanc Conference

KeyBanc analyst Arvind Ramnani reiterated a Sector Weight rating on IBM (NYSE: IBM) after the SVP, Cloud Application Innovation, outlined the the potential for RedHat to drive revenue across the company's broader portfolio of offerings.

The analyst stated "IBM intends to leverage its existing sales channel of ~27,000 IBM individuals, deep client relationships, and extensive global reach to cross-sell RHT's hybrid cloud capabilities. Of IBM's largest 1,100 clients, RHT has a substantial relationship with only about ~60 of the clients, with the remaining 1,040 representing a largely untapped opportunity".

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 $129.57 yesterday.

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