tiprankstipranks

IBM Slips after Analyst Downgrade

IBM Slips after Analyst Downgrade

Shares of IBM (NYSE:IBM) are slightly lower today after receiving an analyst downgrade. Logan Purk of Edward Jones changed his rating from Buy to Hold and stated that the shares are fairly valued.

Confident Investing Starts Here:

Purk noted that IBM has done well to spin off low-growth businesses to now be able to achieve 4% to 6% revenue growth. However, its debt load and dividend payout reduce IBM’s financial flexibility going forward. As a result, the share price is unlikely to be boosted much further.

Overall, Wall Street analysts have a consensus price target of $143.56 on IBM stock, implying over 5% upside potential, as indicated by the graphic above.

Disclosure

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue