UPDATE: Deutsche Bank Raises PT on IBM to $200 (IBM)

Deutsche Bank is out with its report today on IBM IBM, raising its PT from $175 to $200.

In a note to clients, Deutsche Bank writes, "IBM reiterated its 2015 EPS roadmap and outlined its plan to generate at least $20 of EPS by 2015. The combination of modest revenue growth, further productivity gains and buybacks is expected to drive annual double-digit EPS growth over the
next 5 years. We believe there is ample flexibility for IBM to beat this target and expect investors to place a larger premium on IBM's earnings stream as confidence in this goal increases. As a result, we maintain our Buy rating and raise our PT to $200 (from $175)."

At the time of posting, shares of IBM were trading pre-market at $162.54, up 0.16% from Tuesday's close.