IBM (IBM) PT Raised to $155 at BMO Capital

BMO Capital analyst Keith Bachman raised the price target on IBM (NYSE: IBM) to $155.00 (from $153.00) while maintaining a Market Perform rating following earnings.

The analyst commented, "Given the disposition and all the moving parts, we find it challenging to come to a definitive conclusion. Nevertheless, we come away a bit more positive, mostly driven by Consulting and our enthusiasm for services generally — though our previously voiced concerns about the durability of software growth, keep us on the sidelines. On a like-for-like basis, Red Hat decelerated. We raise our target price from $153 to $155, though stay Market Perform."

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