Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Citigroup Ups IBM to Buy


Citigroup raised its investment recommendation on International Business Machines (IBM) to buy from hold.

Analyst Rich Gardner cited improving fundamentals in services as bookings for 2005 look up 10% to 15% vs. down 22% last year, restructuring in services that is leading to higher margins, several new product cycles in microelectronics and servers that lead to a positive mix shift, the lack of PC and printer exposure in what's likely to be an increasingly difficult pricing environment, and attractive valuation on options expense adjusted estimates. He ranks IBM as a top pick within large-cap hardware companies. He upped his earnings per share estimates for 2005 to $4.98 from $4.94, and for 2006 to $5.52 from $5.41.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus