Macquarie Downgrades IBM (IBM) to Neutral; Valuation Call After Mixed Q1 Results

Macquarie downgraded IBM (NYSE: IBM) from Outperform to Neutral with a price target of $215.00.

Analyst, Brad Zelnick, said, "We are downgrading IBM shares following mixed 1Q12 results. Even after raising our TP to $215, a Neutral rating is warranted given only a 7.5% total shareholder return from where the stock traded in after hours...IBM reported $2.78 operating EPS which exceeded the Street’s $2.65, while $24.67bn revenue was slightly shy of $24.82bn consensus. 2012 EPS guidance for “at least $15” largely maintains the original full-year view after accounting for this quarter’s $0.13 beat."

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 $207.45 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• IBM and OpenAI form enterprise AI partnership with GPT-5.6 integration
• LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities
• Travel Food Services (TRAVELFO:IN) PT Raised to INR1,600 at ICICI Securities