Deutsche Bank Maintains a 'Buy' on IBM (IBM); Raising Estimates and PT

Deutsche Bank maintains a 'Buy' on IBM (NYSE: IBM), PT increased from $200 to $210.

Deutsche analyst says, "IBM posted strong non GAAP EPS of $3.09 on revs of $26.7B (vs. DB at $25.9B/$3.01, Street at $25.4B/$3.03) which easily beat expectations. Services signings of $14.3B (vs. Street ~$12.5B) beat handily and IBM raised FY11 guidance (EPS to $13.25+ vs. prior $13.15+)...To reflect the beat and improved guidance we raise our cash operating EPS estimates for FY11 to $13.30 (vs. prior $13.20) and FY12 to $14.80 (vs. prior $14.60)."

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

Shares of IBM closed at $175.28 yesterday.

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