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Wednesday, January 17, 2018

Barclays gives IBM a double upgrade on cloud potential

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|By:, SA News Editor
Barclays upgrades IBM (NYSE:IBM) from Underweight to Overweight and raises the price target from $133 to $192, which is 17% above yesterday’s closing price.
Analyst Mark Moskowitz says IBM could become the next major cloud vendor alongside Amazon Web Services and Microsoft Azure. 
Potential tailwind: The Spectre and Meltdown chip security flaws could help IBM gain market share in the mid-range and high-end server market.
The analyst thinks IBM’s revenue could stabilize or grow in the next 12 to 18 months. 
IBM reports Q4 results aftermarket on Thursday. Revenues have dropped for the past 22 quarters. 
IBM shares are up 1.8% premarket to $166.74.