Sat 10 Dec 2005
Dec 9 commentary on IBM share price
Posted by Sim' under Performance
this morning, UBS issued a downgrade for computer giant IBM. The brokerage lowered IBM to “neutral” from “buy” and noted that the share price is approaching its $100 price target.
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Today, IBM has lost more than one percent thanks to the downgrade.
Tags:No TagsIBM gave up 53 cents to close at $86.97, in the wake of a ratings downgrade from UBS analyst Benjamin Reitzes.
Reitzes cut his rating on Big Blue to neutral from buy on the grounds that IBM shares are close to reaching his $100 price target. He also said that he expects solid hardware sales and benefits from restructuring to help IBM through 2006.