IBM (IBM) Q2 Helped by Low Expectations, PT Raised - BMO Capital
Tweet
Share
E-mail
Get Alerts IBM Hot Sheet
Price: $181.58 +0.06%
Rating Summary:
12 Buy, 23 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
12 Buy, 23 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
BMO Capital lifted its price target on IBM (NYSE: IBM) from $215 to $220 following Q2 results, which were helped by lower expectations. The firm maintained an Market Perform rating.
Analyst Keith Bachman comments, "Against very low expectations, IBM delivered top-line results that were about $200 million below our forecast ($25.1 billion), and we think buy side expectations were close to our estimates. We think a lower tax rate helped EPS by about $0.15, so IBM would have missed our EPS by about $0.02."
The firm is increasing EPS estimate for FY13 to $16.91 from $16.65. Lower tax rates add about $0.32 to our estimates, so without the benefit of lower tax rate, our estimates would move slightly lower. They have modestly lowered CY14 EPS to $17.90 from $18.00.
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 $194.55 yesterday.
Analyst Keith Bachman comments, "Against very low expectations, IBM delivered top-line results that were about $200 million below our forecast ($25.1 billion), and we think buy side expectations were close to our estimates. We think a lower tax rate helped EPS by about $0.15, so IBM would have missed our EPS by about $0.02."
The firm is increasing EPS estimate for FY13 to $16.91 from $16.65. Lower tax rates add about $0.32 to our estimates, so without the benefit of lower tax rate, our estimates would move slightly lower. They have modestly lowered CY14 EPS to $17.90 from $18.00.
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 $194.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- Uber Inc. (UBER) PT Raised to $96 at Tigress Financial Partners
- CIMC Enric Holdings Ltd. (3899:HK) (CIMEF) PT Lowered to HK$8.70 at HSBC
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
BMO CapitalSign 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!
