IBM Receives a Rating Update from a Top Analyst

By Austin Angelo

Cantor Fitzgerald analyst Joseph Foresi maintained a Hold rating on IBM (NYSE: IBM) today and set a price target of $154. The company’s shares opened today at $147.48.

Foresi wrote:

“3Q17 preview: We expect a revenue decline in the period. Our 3Q17 revenue estimate is $18.62 bn (-3.2% y/y, -3% cc), vs. the FactSet consensus of $18.60 bn. Our EPS estimate is $3.29 vs. the consensus of $3.28.”

According to TipRanks.com, Foresi is a top 100 analyst with an average return of 15.8% and a 87.5% success rate. Foresi covers the Technology sector, focusing on stocks such as Automatic Data Processing, Jack Henry & Associates, and Fidelity National Info.

Currently, the analyst consensus on IBM is Hold and the average price target is $158, representing a 7.1% upside.

In a report released yesterday, RBC Capital also reiterated a Hold rating on the stock with a $160 price target.

IBM’s market cap is currently $137B and has a P/E ratio of 12.22. The company has a book value ratio of 7.4392.

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