IBM: UBS raises TP, but still says 'sell'.

(CercleFinance.com) - On Monday, UBS raised its target price for IBM shares from $125 to $130, while renewing its 'sell' recommendation on the US IT group's stock.


The broker says that it has cut its sales forecasts for the company for 2024 and 2025 after the sale of its weather business (The Weather Company) to the Francisco Partners fund for $1.1bn.

As the transaction is expected to generate a gain of $240m to offset the loss of revenues associated with the disposal, UBS maintains its 2024 EPS forecast at $10.


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