BUZZ-BMO cuts IBM price target, sees limited upside

Reuters
Mar 19
BUZZ-BMO cuts <a href="https://laohu8.com/S/IBM">IBM</a> price target, sees limited upside

** Shares of IBM IBM.N marginally down after BMO cuts PT to $290 from $350, which is still a 15.2% upside to the stock's last close

** Brokerage lowers PT citing compression in software and IT services multiples

** "We do not foresee enough upside to move to a constructive stance at this juncture, despite our view that IBM product breadth, brand, AI and quantum potential, lower stock volatility and dividend warrant a premium over what is implied by growth vs the comp group" - BMO

** 11 of 23 analysts rate stock "strong buy" or "buy", ten "hold" and two "sell" or "strong sell"; their median PT is $314.67 - data compiled by LSEG

** Including session's move, IBM down 15% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))

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