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Topeka Capital Starts IBM (IBM) at Buy, $245 PT

December 21, 2012 7:12 AM EST Send to a Friend
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Price: $191.70 -0.23%

Rating Summary:
    6 Buy, 22 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 10 | New: 20
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Topeka Capital initiates coverage on IBM (NYSE: IBM) with a Buy. PT $245.00.

The firm comments, "Although we expect relatively modest IT spending growth in 2013, we believe IBM’s portfolio plays into the key secular IT trends such cloud computing, Big Data and the broader trend toward analytics with broader portfolio of solutions. Also, challenges at competitors such as Hewlett-Packard (HPQ-$14.43: Sell) may open up incremental opportunities for IBM next year. Given our view of the secular trends and changes in the IT world, we view IBM as a core holding for investors in the technology sector going into 2013."

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 $194.77 yesterday.




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