IBM Downgraded to Sell Amid Mixed Analyst Views
International Business Machines (IBM) has been downgraded by Wall Street Zen from 'hold' to 'sell', according to a report issued on Saturday. This is not an isolated opinion, as several other analysts have also commented on the stock.
Roth Capital reaffirmed its 'buy' rating for IBM shares in a research report on June 3rd, while Oppenheimer lowered its rating from 'outperform' to 'market perform' on July 15th. The Goldman Sachs Group set a price objective of $270.00 per share on Thursday, July 23rd.
The company's stock opened at $243.14 on Friday and has a market cap of over $229 billion. IBM develops and supports enterprise systems such as mainframes, servers, and storage products, with software offerings including hybrid cloud technologies and artificial intelligence solutions.