IBM: included in Goldman Sachs list, share price rises

(CercleFinance.com) - IBM shares were one of the few Dow Jones index components to gain ground on the New York Stock Exchange on Tuesday, following Goldman Sachs' decision to include the stock on its US Conviction List.


At around 10:30 a.m. (Wall Street time), the IT group's shares were up by around 0.2%, while the Dow lost more than 1.1% at the same time.

Jim Schneider, the analyst in charge of the stock at Goldman, highlights the company's current shift towards long-term growth.

In a note, he particularly highlights the company's 'undervalued' strength in software, as well as its market share gains in technology consulting, both of which he says could not only support earnings, but also drive an expansion of its stock market multiples.

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