IBM (IBM) Q2 Helped by Low Expectations, PT Raised - BMO Capital
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July 18, 2013 10:13 AM EDT
Goldman Sachs today maintained a Neutral rating on IBM (NYSE: IBM) and cuts its price target to $195.00 (from $200.00). Comments follow lackluster Q2 results yesterday, which featured light revenue.
"We continue to believe that pressures on IBM's growth markets and higher-margin revenue streams... More
July 17, 2013 4:08 PM EDT
(Updated - July 17, 2013 4:12 PM EDT)
IBM (NYSE: IBM) reported Q2 EPS of $3.91, $0.14 better than the analyst estimate of $3.77. Revenue for the quarter came fell 3% to $24.9 billion versus the consensus estimate of $25.39 billion.
"In the second quarter, we delivered strong performance in our higher-value software and mainframe businesses and again significantly increased our services backlog on growth in new business," said Ginni Rometty, IBM chairman, president and... More
