UBS Reviews Q2 on IBM (IBM): Strategy and Execution Bolstering Results

UBS maintains a 'Neutral' on IBM (NYSE: IBM) price target of $203.00 (from $205.00).

Analyst, Steven Milunovich, said, "IBM’s report was a relief in that it wasn’t worse. The pattern of weak revenue but strong EPS driven by margin expansion continued."

Milunovich's view of IBM's chart shows the stock at a critical juncture, just under its 200-day moving average. The 50-day almost looks like it'll cross under. However, he feels the stock is still a defensive name in tech. FY12 EPS estimate raised from $15.10 to $15.15.

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 $188.25 yesterday.

---

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

---

You May Also Be Interested In

• Keefe, Bruyette & Woods Downgrades Bain Capital Specialty Finance (BCSF) to Market Perform
• ICICI Securities Starts Cemindia Projects (CEMPRO:IN) at Buy (1)
• Investec Double Upgrades Alkem Laboratories Ltd (ALKEM:IN) to Buy