Shares of International Business Machines Corp (IBM) recently traded at $141.28, surpassing the average analyst 12-month target price of $141.22. This milestone prompts a potential reassessment of the stock’s valuation, with analysts needing to either downgrade their estimates or raise their targets in light of recent price movements.
Currently, there are nine analysts covering IBM, with price targets ranging from a low of $111.00 to a high of $160.00. The average target price reflects a standard deviation of $13.63, indicating varied expectations among analysts. The overall rating for IBM remains stable, with 4 strong buy, 1 buy, 4 hold, and 1 strong sell ratings.
According to Zacks Investment Research, the current average rating for IBM stands at 2.3 on a scale where 1 represents a strong buy and 5 indicates a strong sell.
