IBM price target raised to $165 from $143 at Societe Generale

Societe Generale raised the firm’s price target on IBM to $165 from $143 and keeps a Sell rating on the shares following the Q4 report. The firm reiterates a cautious stance on the stock as it continues to believe the current valuation “has run ahead of fundamentals.” The analyst wants to see an acceleration in organic revenue growth, especially in software.