International Business Machines Corp. Price Target Cut to $210.00 by Analysts at Evercore Partners (IBM)
Stock analysts at Evercore Partners dropped their price target on shares of International Business Machines Corp. (NYSE:IBM) from $235.00 to $210.00 in a report issued on Thursday, American Banking News reports. The firm currently has an “overweight” rating on the stock. Evercore Partners’ price objective would indicate a potential upside of 20.12% from the company’s current price.
A number of other analysts have also recently weighed in on IBM. Analysts at Credit Suisse cut their price target on shares of International Business Machines Corp. from $175.00 to $160.00 in a research note to investors on Thursday. They now have an “underperform” rating on the stock. Separately, analysts at Barclays cut their price target on shares of International Business Machines Corp. from $190.00 to $180.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Finally, analysts at BMO Capital Markets reiterated a “hold” rating on shares of International Business Machines Corp. in a research note to investors on Thursday. They now have a $215.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $207.24.
Shares of International Business Machines Corp. (NYSE:IBM) traded down 6.37% during mid-day trading on Thursday, hitting $174.83. 22,368,940 shares of the company’s stock traded hands. 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 was the recipient of some unusual options trading on Wednesday. Traders acquired 34,289 call options on the stock. This is an increase of 205% compared to the average 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 (EPS) for the quarter, beating the 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 previous year, the company posted $3.62 earnings per share. The company’s revenue for the quarter 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.
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