In a report published Tuesday, Wells Fargo Securities analyst Maynard Um reiterated a Market Perform rating on International Business Machines IBM.
In the report, Wells Fargo Securities noted, “We view IBM as a fairly defensive stock given its historical track record of meeting and exceeding guidance, return of solid cash flow in the form of share repurchases and dividends, recurring revenue streams, and given that, among its peers, it is furthest along in offering complete solutions. However, we believe its premium valuation relative to peers and inline with S&P 500 limits potential for significant price appreciation relative to the overall market.”
International Business Machines closed on Monday at $197.78.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in