IBM (IBM) Fundamentals Continue to Improve - Global Equities' Chowdhry
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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.
Shares of IBM closed at $131.62 yesterday.
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