IBM: Jefferies initiates coverage - says 'buy'
(CercleFinance.com) - Jefferies has begun to monitor IBM shares with a “buy” rating and a target price of 170 dollars, seeing that the IT giant is on a solid path to outperform growth expectations after years of transition.
"We see a strong demand environment driven by pandemic recovery and enterprise focus on digitization and digital resiliency," the broker said.
Jefferies points to the increasing cloud mix in its business, recent strategic actions that catalyse revenue growth and a leading portfolio to deliver multi-cloud solutions.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"We see a strong demand environment driven by pandemic recovery and enterprise focus on digitization and digital resiliency," the broker said.
Jefferies points to the increasing cloud mix in its business, recent strategic actions that catalyse revenue growth and a leading portfolio to deliver multi-cloud solutions.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.