IBM: Barclays upgrades to 'overweight', shares jump

(CercleFinance.com) - Shares of IBM opened up 2.
4% at 167.8 dollars on Wednesday after Barclays Capital upgraded its rating on the IT giant from "underweight" to "overweight".

While not commenting specifically on "Big Blue", the broker said in a research report dedicated to IT hardware and data networking that it expects healthy fundamentals in the sector to set the stage for upward-moving consensus estimates in the near-to-mid-term.

BarCap also believes that potential tax reform benefits should help.

For 2018, the broker hence expects stocks such as IBM, as well as NetApp and Cisco, to outperform.

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