IBM Stock: $155 Target From BMO Capital

By Amit Chowdhry ● July 18, 2021
  • The shares of IBM (NYSE: IBM) have received a price target of $155 by BMO Capital. These are the details.

The shares of IBM (NYSE: IBM) have received a price target increase from $150 to $155 by BMO Capital. And BMO Capital analyst Keith Bachman is maintaining a “Market Perform” rating on the company shares. 

Bachman noted that in terms of the June quarter, this is an easy compare for the company. And Bachman noted that there is modest upside tension to the consensus revenue estimates of $18.3 billion. IBM will be reporting its results for the June quarter tomorrow. 

The expectations for the September quarter are that the revenue is going to be $17.6 billion and profits are expected to be $2.59 per share, according to Barron’s. IBM is expected to see an increase in spending on hardware, software, and services. 

Evercore ISI analyst Amit Daryanani pointed out that enterprise IT vendors have been reporting strong results as proven by Oracle and Accenture. And the recovery from the pandemic is expected to boost the demand for markets such as retail and travel.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.