IBM: Jefferies still a buyer after conference

(CercleFinance.com) - Jefferies reinstates its "buy" recommendation on IBM shares, along with its target price of 165 dollars after a meeting with the IT services group's management team at the IBM Think conference in Boston.


"We come away from the conference incrementally positive on the company's ability to achieve their mid-term model for mid-single-digit revenue growth," the broker says.

"Enterprise spending remains strong, they're enhancing their participation in public cloud/SaaS ecosystems,
and the portfolio is positioned to be agnostic to the pace of public cloud adoption," Jefferies adds.


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