Canaccord Genuity Maintains a 'Hold' on IBM (IBM); FX Assists in Solid Q1 Showing

Canaccord Genuity maintains a 'Hold' on IBM (NYSE: IBM), PT $180.

Canaccord analyst says, "We are maintaining our recommendation following IBM’s Q1/11 financial results. While the company reported results that came in above expectations both on the top and bottom lines, and further went on to raise its 2011 guidance, the weaker-than-expected signings were a focus on the conference call. With limited upside to our target price, we will remain on the sidelines for more compelling entry points."

For more ratings news on IBM click here and for the rating history of IBM click here.

Shares of IBM closed at $165.40 yesterday.

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