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IBM: shares rise, broker upgrades to 'outperform'

(CercleFinance.com) - Shares in US computing giant IBM are up 1.
4% on Wednesday as a broker upgrade highlighted their "attractive valuation."

RBC Capital Markets upgraded IBM from "sector perform" to "outperform, raising its target price target for the stock from 160 dollars to 180 dollars, seeing cyclical and secular levers that should drive share performance in 2018.

"We think IBM is an attractive large-cap value stock for investors in 2018 as the potential for revenue and margin stability should enable a re-rating," RBC wrote in a research note.

A few minutes after the market opened, shares in IBM, which have been broadly unchanged over the past year while the Dow Jones index has jumped 25%, were up 1.4% at 156.4 dollars.

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