Argus Upgrades IBM (IBM) to Buy
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Price: $252.51 -2.06%
Rating Summary:
20 Buy, 23 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 23 | Down: 26 | New: 23
Rating Summary:
20 Buy, 23 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 23 | Down: 26 | New: 23
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Argus upgraded IBM (NYSE: IBM) from Hold to Buy with a price target of $175.00.
The firm notes the upgrade is primarily on valuation. They note IBM trades at 9.2-times our 2015 EPS forecast and at 8.8-times our 2016 forecast, compared to a five-year (2010-2014) average P/E of 11.6.
For an analyst ratings summary and ratings history on IBM click here. For more ratings news on IBM click here.
Shares of IBM closed at $140.96 yesterday.
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