IBM (IBM) Fundamentals Continue to Improve - Global Equities' Chowdhry

December 28, 2021 11:45 AM EST
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Price: $142.06 +2.61%

Rating Summary:
    14 Buy, 21 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 20
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Global Equities Research analyst Trip Chowdhry reiterated an Overweight rating and $185.00 price target on IBM (NYSE: IBM), saying fundamentals continue to improve.

"The best is yet to come for IBM = IBM Open Source + IBM Watson + IBM Quantum Computing, "Chowdhry.

The analyst notes that every month they attend 8 to 11 Technology Conferences, Hackathons and Summits and the number and attendance at IBM-RedHat Hackathons continues to increase, indicating "strong long-term fundamentals."

Chowdhry said IBM's winning recipe is: [Watson + Open Data Hub + OpenShift] x [(Hardware + ISV + Super Cloud) x Certifications]

There is "zero chance for any company to Replicate what [IBM + Red Hat] combination can do," he added.

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 $131.62 yesterday.

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Trip Chowdhry