International Business Machines Corporation (IBM) Received its Third Buy in a Row

After Evercore ISI and Stifel Nicolaus gave International Business Machines Corporation (NYSE: IBM) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Wamsi Mohan reiterated a Buy rating on International Business Machines Corporation yesterday and set a price target of $165. The company’s shares closed yesterday at $143.07.

According to TipRanks.com, Mohan is a 4-star analyst with an average return of 6.1% and a 53.1% success rate. Mohan covers the Consumer Goods sector, focusing on stocks such as Dell Technologies Inc, Pure Storage Inc, and Western Digital.

International Business Machines Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $159.20, which is an 11.3% upside from current levels. In a report issued on July 2, Evercore ISI also maintained a Buy rating on the stock with a $150 price target.

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International Business Machines Corporation’s market cap is currently $126.9B and has a P/E ratio of 15.09. The company has a Price to Book ratio of 7.70.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.

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