TECH - IBM's Q4 Results Showcase Revenue Growth: 4 Analysts Take A Closer Look | Benzinga
Shares of IBM (NYSE: IBM) climbed in early trading on Thursday, after the company reported stronger-than-expected results for its fourth quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
BMO Capital Markets On IBM
Analyst Keith Bachman maintained a Market Perform rating while raising the price target from $155 to $210.
Although IBM delivered solid results for the fourth quarter, weakness in Software remains "our biggest question mark on the stock,” Bachman said in a note. The company’s full-year free cash flows were better than expected and its $12 billion guidance for fiscal 2024 was "above our and investor expectations,” he added.
"Moreover, IBM guided to the low end of its mid-single-digit growth model for FY24 which implies acceleration versus FY23,” the analyst further wrote.
Stifel On IBM
Analyst David Grossman reaffirmed a Buy ...