International Business Machines (NYSE:IBM) Given New $335.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target on IBM from $315 to $335 and kept a buy rating, implying roughly a 7.34% upside from the current share price.
• Analyst views are mixed but tilt positive: the consensus is a Moderate Buy with an average price target of $303.38, while individual targets range from a UBS sell to RBC’s $350 outperform.
• IBM recently beat estimates, reporting $2.65 EPS vs. $2.45 expected and $16.33B in revenue (up 9.1% year-over-year), which has helped drive bullish revisions.

International Business Machines (NYSE:IBM - Get Free Report) had its price objective boosted by analysts at Bank of America from $315.00 to $335.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Bank of America's price target points to a potential upside of 7.34% from the stock's current price.

Other analysts also recently issued research reports about the stock. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Friday, December 5th. UBS Group reissued a "sell" rating on shares of International Business Machines in a research note on Tuesday, December 9th. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Monday, January 5th. Morgan Stanley dropped their price target on International Business Machines from $256.00 to $252.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 23rd. Finally, Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and a consensus price target of $303.38.

International Business Machines Stock Performance

IBM stock opened at $312.08 on Tuesday. The firm has a market cap of $291.71 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.82 and a beta of 0.70. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. The stock has a 50-day moving average price of $303.70 and a 200-day moving average price of $282.04. International Business Machines has a 1-year low of $214.50 and a 1-year high of $324.90.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.45 by $0.20. The business had revenue of $16.33 billion during the quarter, compared to analysts' expectations of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm's revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.30 earnings per share. As a group, equities research analysts expect that International Business Machines will post 10.78 earnings per share for the current year.

Institutional Trading of International Business Machines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Family CFO Inc purchased a new stake in shares of International Business Machines during the 2nd quarter valued at $25,000. Winnow Wealth LLC bought a new position in International Business Machines during the second quarter valued at about $27,000. Mountain Hill Investment Partners Corp. purchased a new stake in International Business Machines during the third quarter worth about $28,000. SWAN Capital LLC purchased a new position in International Business Machines in the third quarter valued at about $28,000. Finally, Highline Wealth Partners LLC grew its position in shares of International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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