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Barclays gives IBM a double upgrade on cloud potential

Published 01/17/2018, 08:37 AM
Updated 01/17/2018, 08:37 AM
© Reuters.  Barclays gives IBM a double upgrade on cloud potential
  • Barclays (LON:BARC) upgrades IBM (NYSE:IBM) from Underweight to Overweight and raises the price target from $133 to $192, which is 17% above yesterday’s closing price.
  • Analyst Mark Moskowitz says IBM could become the next major cloud vendor alongside Amazon (NASDAQ:AMZN) Web Services and Microsoft (NASDAQ:MSFT) Azure.
  • Potential tailwind: The Spectre and Meltdown chip security flaws could help IBM gain market share in the mid-range and high-end server market.
  • The analyst thinks IBM’s revenue could stabilize or grow in the next 12 to 18 months.
  • IBM reports Q4 results aftermarket on Thursday. Revenues have dropped for the past 22 quarters.
  • IBM shares are up 1.8% premarket to $166.74.
  • Previously: IBM, Maersk launch blockchain platform for tracking cargo (Jan. 16)
  • Now read: IBM Has Cryptomania Upside


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