IBM (IBM) PT Lowered to $152 at BMO Capital

BMO Capital analyst Keith Bachman lowered the price target on IBM (NYSE: IBM) to $152.00 (from $157.00) while maintaining a Market Perform rating.

The analyst comments "Given all the moving parts, we don’t think either bulls or bears will switch sides based on the report. GTS continues to lag, and we believe this will continue into 2020, and Cognitive (ex. Red Hat) had a poor Q, while Red Hat results were solid. More broadly, we think IBM has yet to prove the durability on the top line, which we think will keep the shares range-bound."

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