(CercleFinance.com) – UBS is lowering its advice on IBM stock from ‘neutral’ to ‘sell’, with a price target reduced from $ 136 to $ 124.
The analyst is indeed revising downwards his medium-term EPS forecasts, especially after the Kyndryl spin-off.
The broker thus lowers its BPA forecasts for the 4th quarter by 18%. According to UBS, EPS 2022 and 2023 are also expected to be 12% and 10% respectively.
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