Societe Generale Raises IMB PT To $170

Societe Genereale has issued a report raising the Price Target on IBM IBM from $165 to $170 a share. According to the report, "Although we like IBM’s strong fundamentals, its high valuation already reflects in our view its growth prospects and earnings power. On different multiples (2012-13e P/E, EV/Sales and EV/EBIT), IBM is trading at a premium, between 10% and 30%+, relative to peers." IBM has a Hold Rating and closed at $175.30 a share yesterday.