Sterne Agee Lowers Revenue Estimates on IBM (IBM), Citing Currency and Europe
Tweet Send to a FriendGet Alerts IBM Hot Sheet
Price: $201.94 -1.43%
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade IBM Now!
Sterne Agee maintains a 'Buy' on IBM (NYSE: IBM) price target of $230.00.
Analyst, Shaw Wu, said, "We are trimming our revenue forecast due to the stronger dollar and a weaker Europe. However, we maintain our above consensus EPS due to our checks indicating more focus on higher-margin and faster payback software from its sales force and partners. We continue to believe IBM is among the best plays (if not the best) in the enterprise space given its lead in analytics, big data, and cloud."
"For 2012, we are now at $108 billion in revenue and $15.15 in EPS (from $109.1 billion and $15.15 in EPS) and for 2013, $111.3 billion and $17.10 in EPS (from $112.4 billion and $17.10 in EPS)."
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 $189.20 yesterday, with a 52 week range of $157.13-$210.69.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Shaw Wu, said, "We are trimming our revenue forecast due to the stronger dollar and a weaker Europe. However, we maintain our above consensus EPS due to our checks indicating more focus on higher-margin and faster payback software from its sales force and partners. We continue to believe IBM is among the best plays (if not the best) in the enterprise space given its lead in analytics, big data, and cloud."
"For 2012, we are now at $108 billion in revenue and $15.15 in EPS (from $109.1 billion and $15.15 in EPS) and for 2013, $111.3 billion and $17.10 in EPS (from $112.4 billion and $17.10 in EPS)."
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 $189.20 yesterday, with a 52 week range of $157.13-$210.69.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Wedbush Starts Owens Corning (OC) at Outperform
- UPDATE: Bernstein Cuts BlackBerry (BBRY) to Underperform; Notes Weak BB10 Traction
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Sterne Agee
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
