Barclays Maintains an 'Equalweight' on IBM (IBM); Raising Numbers, But Looking To May 9 Analyst Day

Barclays maintains an 'Equalweight' on IBM (NYSE: IBM) price target raised from $200 to $217.

Analyst, Ben A. Reitzes, said, "We are raising our estimates for IBM and we now expect 2012 EPS of $15.08 (from $14.87) based on 1% y/y revenue growth to $108.2 billion (was $108.0 billion) and operating margin of 21.5%. For 2Q12 EPS we estimate $3.42 (was $3.40) based on -1% y/y decline in revenue to $26.41 billion (was $26.48 billion) and operating margin of 20.1%. For FY13, our EPS estimate is $16.66 (was $16.43), based on 3.5% y/y revenue growth to $112.0 billion (was $111.5 billion) with operating margins of 22.3% (was 22.1%). Our FY14 estimates is now $18.40 (was $18.15) based on 3% y/y revenue growth to $115.5 billion (was $115.4 billion) with operating margins of 22.9%."

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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