J.P. Morgan Overweight On IBM (IBM)

J.P. Morgan Chase & Co. has an Overweight rating and a $166 price target on shares of IBM IBM.

In a note to investors, J.P. Morgan writes, "On Tuesday, Overweight-rated IBM hosted its analyst day in Yorktown Heights,
NY. The event was longer term in scope, and it offered investors a well-crafted overview of the multiple levers that underpin the 2015 Roadmap. We believe the two main takeaways are that 1) there is upside potential to the long-term margin and EPS targets and 2) IBM does not need to make a major, disruptive acquisition. Recall, in our “2011 Roadmap” industry report published on Jan. 14 we highlighted IBM as having the lower relative M&A risk given its lead in constructing the one-stop IT solutions shop."

Shares of IBM closed at $162.28 yesterday, up $2.35.