Credit Suisse Maintains Rating, PT On IBM

Credit Suisse is maintaining its Neutral rating and its $175 price target on International Business Machines IBM following the company's 2Q11 posted earnings. Says Credit Suisse, in its report, “Post Q211 results, we raise our EPS estimates by 1% for both 2011/2012 to $13.47/$15.24 and retain our TP of $175. Given limited potential upside over the next 12 months, we maintain our Neutral rating.” IBM closed yesterday at $175.28.