IBM Stock Jumps As Fourth-Quarter Earnings Present Upside Surprise

▤ Summary

"Even a modest beat is enough for now," wrote Nomura analyst Jeffrey Kvaal in a report to clients. "IBMs transformation has been slower than anticipated, but we see the company accelerating the pivot to growth as CIO priorities align with investments in Strategic Imperatives and combine with divestitures of noncore businesses," Morgan Stanley analyst Katy Huberty wrote in her note to clients. UBS analyst John Roy maintained a buy rating on IBM stock and price target of 150. "We reiterate our Buy as IBM is fixing its issues and setting the stage for growth," Roy wrote in his note. During the quarter IBM announced a deal to acquire cloud-computing company Red Hat for $34 billion in cash.

▦ Linked Companies

IBM

$1B+