International Business Machines Corp. Price Target Cut to $187.00 by Analysts at Societe Generale (IBM)
Stock analysts at Societe Generale decreased their target price on shares of International Business Machines Corp. (NYSE:IBM) from $193.00 to $187.00 in a report issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “hold” rating on the stock. Societe Generale’s price target would suggest a potential upside of 6.96% from the company’s current price.
IBM has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. cut their price target on shares of International Business Machines Corp. from $196.00 to $179.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of International Business Machines Corp. from $210.00 to $190.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Finally, analysts at Evercore Partners cut their price target on shares of International Business Machines Corp. from $235.00 to $210.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $207.24.
International Business Machines Corp. (NYSE:IBM) traded down 6.37% during mid-day trading on Thursday, hitting $174.83. The stock had a trading volume of 22,368,940 shares. International Business Machines Corp. has a 52-week low of $181.10 and a 52-week high of $215.90. The stock’s 50-day moving average is $188.0 and its 200-day moving average is $199.5. The company has a market cap of $191.5 billion and a P/E ratio of 13.26. International Business Machines Corp. also saw some unusual options trading on Wednesday. Investors acquired 34,289 call options on the company. This is an increase of approximately 205% compared to the typical daily volume of 11,260 call options.
International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Wednesday, October 16th. The company reported $3.99 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.96 by $0.03. The company had revenue of $23.70 billion for the quarter, compared to the consensus estimate of $24.77 billion. During the same quarter in the prior year, the company posted $3.62 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts expect that International Business Machines Corp. will post $16.89 EPS for the current fiscal year.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.