Sterne Agee on IBM (IBM); Remains a Top Pick and We Are Buyers on Potential Weakness

Sterne Agee reiterates a 'Buy' on IBM (NYSE: IBM) price target of $230.00.

Analyst, Shaw Wu, said, "IBM reported a solid quarter where it beat consensus EPS by 13 cents but missed revenue slightly by $100 million...For its outlook, IBM raised its guidance to at least $15.00 in EPS for 2012, up from its previous view of $14.85 in EPS. As a result, we are raising our already above consensus estimates. For 2012, we are now at $109.1 billion in revenue and $15.15 in EPS (from $109.1 billion and $15.00 in EPS) vs. consensus at $108.5 billion and $14.93 in EPS and for 2013, $112.4 billion and $17.10 in EPS (from $112.3 billion and $17.00 in EPS) vs. consensus at $112.2 billion and $16.49 in EPS."

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.

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