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IBM (IBM) Estimates Cut Slightly at Evercore ISI on Currency Concerns, No Change to the PT

March 31, 2022 7:33 AM EDT
Get Alerts IBM Hot Sheet
Price: $123.00 +0.81%

Rating Summary:
    14 Buy, 21 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 5 | New: 17
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Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $140.00 price target on IBM (NYSE: IBM) while reducing CY22 estimates to $60.0B/$9.64, down from $60.5B/$9.75 estimates on currency concerns.

The analyst stated "F/X will be a larger than expected drag for IBM in CY22 however, we expect y/y growth to remain solid given mainframe cycle benefits and secular growth tailwinds in broader tech (digital transformation). Maintain In Line rating and $140 target."

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 $132.13 yesterday.

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