IBM (NYSE:IBM) posted better-than-expected earnings for its first quarter, while sales missed expectations.
IBM posted quarterly earnings of $1.36 per share, beating analysts’ estimates of $1.26 per share. The company’s quarterly sales came in at $14.25 billion, versus expectations of $14.35 billion.
IBM shares gained 3.2% to $130.32 on Thursday.
These analysts made changes to their price targets on IBM following earnings announcement.
- Morgan Stanley cut the price target on IBM from $143 to $135. Morgan Stanley analyst Eric Woodring maintained an Equal-Weight rating.
- Stifel lowered the price target on IBM from $150 to $140. Stifel analyst David Grossman maintained a Buy rating.
- Evercore ISI Group cut the price target on IBM from $150 to $140. Evercore ISI Group analyst Amit Daryanani maintained the stock with an In-Line rating.
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