Morgan Stanley analyst Erik Woodring raised the firm’s price target on IBM (IBM) to $256 from $253 and keeps an Equal Weight rating on the shares ahead of the company’s scheduled Q3 report on Wednesday, October 22. The firm’s tracker points to accelerating organic Software growth in Q3 that should be “enough to meet or slightly exceed” Street expectations, but it “wouldn’t be chasing results here” as shares trade at a premium to peers, the analyst tells investors in a preview.
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