IBM (IBM) PT Maintained at $178 at Stifel on Mixed 3Q Report; 'Services Continued to Improve... Software Degraded More Than Expected'

Stifel analyst David Grossman maintained the price target on IBM (NYSE: IBM) at $178.00 while maintaining a Buy rating, following the company's third quarter earnings report.

Analyst Grossman maintains his outlook on IBM shares, as management reported mixed results, with third quarter earnings per share figures coming in above consensus (by $0.02) due to a lower tax rate (added $0.08), while revenue results missed on 'degraded' software segment performance.

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