In a report published Monday, Barclays Capital analyst Ben A. Reitzes downgraded the rating on International Business Machines Corp. (NYSE: IBM) from Overweight to Equal-Weight, and lowered the price target from $215.00 to $190.00.
In the report, Barclays Capital noted, “It is increasingly clear to us that investors will evaluate IBM on cash flow more than earnings until revenue starts to grow meaningfully. As a result, we are moving our rating for IBM to Equal Weight from Overweight even though shares have been down over the past several months. The mainframe ‘catalyst' has passed and positive benefits from analytics seem to be offset by secular shits to SaaS and Cloud, which seem to adversely impact all of IBM's segments in some way. We have recently performed several surveys that show the disruptive impact of cloud and SaaS are only in the early innings and are set to be more disruptive in 2014 for our whole sector.”
International Business Machines Corp. closed on Friday at $184.10.
Posted-In: Barclays Capital Ben A. ReitzesAnalyst Color Downgrades Analyst Ratings
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Source: http://www.benzinga.com/analyst-ratings/analyst-color/13/10/3971097/update-barclays-downgrades-international-business-machin
Tags: Jonathan Ferrell big brother spoilers Eminem Survival Myla Sinanaj Mexico vs Panama
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.