Sterne Agee Lowers Revenue Estimates on IBM (IBM), Citing Currency and Europe
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Price: $233.69 -1.46%
Rating Summary:
19 Buy, 22 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
19 Buy, 22 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Sterne Agee maintains a 'Buy' on IBM (NYSE: IBM) price target of $230.00.
Analyst, Shaw Wu, said, "We are trimming our revenue forecast due to the stronger dollar and a weaker Europe. However, we maintain our above consensus EPS due to our checks indicating more focus on higher-margin and faster payback software from its sales force and partners. We continue to believe IBM is among the best plays (if not the best) in the enterprise space given its lead in analytics, big data, and cloud."
"For 2012, we are now at $108 billion in revenue and $15.15 in EPS (from $109.1 billion and $15.15 in EPS) and for 2013, $111.3 billion and $17.10 in EPS (from $112.4 billion and $17.10 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 $189.20 yesterday.
Analyst, Shaw Wu, said, "We are trimming our revenue forecast due to the stronger dollar and a weaker Europe. However, we maintain our above consensus EPS due to our checks indicating more focus on higher-margin and faster payback software from its sales force and partners. We continue to believe IBM is among the best plays (if not the best) in the enterprise space given its lead in analytics, big data, and cloud."
"For 2012, we are now at $108 billion in revenue and $15.15 in EPS (from $109.1 billion and $15.15 in EPS) and for 2013, $111.3 billion and $17.10 in EPS (from $112.4 billion and $17.10 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 $189.20 yesterday.
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