UPDATE: UBS Starts IBM (IBM) at Neutral; Superior Execution, But Fairly Priced
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Price: $208.44 +1.83%
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade IBM Now!
(Updated - July 11, 2012 11:03 AM EDT)
Earlier, UBS initiates coverage on IBM (NYSE: IBM) with a Neutral. PT $205.00.
Analyst, Steven Milunovich, said, "IBM is the only computer company to succeed in non-consecutive tech waves thanks to its excellent strategy and renewed thought leadership. Management shifted revenue from hardware to services to software while jettisoning commoditizing businesses...We expect the stock to rest following its substantial outperformance. IBM sells at the upper end of the EV/FCF range relative to the group and its history. Also, our DCF indicates that the price already discounts margin expansion."
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 $186.26 yesterday, with a 52 week range of $157.13-$210.69.
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Earlier, UBS initiates coverage on IBM (NYSE: IBM) with a Neutral. PT $205.00.
Analyst, Steven Milunovich, said, "IBM is the only computer company to succeed in non-consecutive tech waves thanks to its excellent strategy and renewed thought leadership. Management shifted revenue from hardware to services to software while jettisoning commoditizing businesses...We expect the stock to rest following its substantial outperformance. IBM sells at the upper end of the EV/FCF range relative to the group and its history. Also, our DCF indicates that the price already discounts margin expansion."
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 $186.26 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
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