IBM - Bull Of The Day

As a result of its large non-US revenue base, IBM Corporation (IBM) has been better insulated from recent weakness in the U.S. economy than many of its peers. IBM’s Q109 results indicate its strong position in emerging markets, which should continue to help drive growth.

Moreover, the company has focused on driving its bottom line through cost cutting efforts. It re-affirmed EPS guidance for the full year of 2009. Although, revenue is not expected to grow much, we expect margin improvements in 2009.

The company’s long-term prospects look brighter as it maintains a strong position in the software and services market. We maintain our Buy rating on IBM shares and maintain our price target of $120.00.

Subscribe by RSS Subscribe by Email