IBM: shares trade higher, Credit Suisse is positive
(CercleFinance.com) - IBM shares are up today, as Credit Suisse initiates its coverage with an "outperform" rating, saying that the technology giant is "standing on the precipice of change.
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The Red Hat acquisition marks a landmark shift in strategy, the broker says, by bringing a potential return to true revenue-driven EPS growth compared to years of over-reliance on lower-quality drivers, it notes.
"The combination significantly improves IBM's positioning in the rapid push toward hybrid cloud," the analyst says.
Credit Suisse has set a target price of 173 dollars on the stock, which is currently up 0.7% at 144 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
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The Red Hat acquisition marks a landmark shift in strategy, the broker says, by bringing a potential return to true revenue-driven EPS growth compared to years of over-reliance on lower-quality drivers, it notes.
"The combination significantly improves IBM's positioning in the rapid push toward hybrid cloud," the analyst says.
Credit Suisse has set a target price of 173 dollars on the stock, which is currently up 0.7% at 144 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.