{"id":35780,"date":"2023-07-14T17:26:45","date_gmt":"2023-07-14T21:26:45","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/bofa-securities-reiterates-buy-rating-on-ibm-ahead-of-q2\/"},"modified":"2023-07-14T17:26:46","modified_gmt":"2023-07-14T21:26:46","slug":"bofa-securities-reiterates-buy-rating-on-ibm-ahead-of-q2","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35780","title":{"rendered":"BofA Securities reiterates Buy rating on IBM ahead of Q2"},"content":{"rendered":"
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\u00a9 Reuters. BofA Securities reiterates Buy rating on IBM ahead of Q2<\/span>
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BofA Securities reiterated its Buy rating and $152.00 price target on IBM <\/span><\/span> (NYSE:) ahead of the company\u2019s upcoming Q2\/23 earnings report, scheduled on July 19.<\/p>\n

In the backdrop of a weaker macro environment, the firm anticipates IBM shares to outperform in H2\/23, driven by an improving fundamental story. This is supported by positive factors such as better-than-feared revenue growth, favorable FX tailwinds, improved pre-tax margins, FCF uplift, and the benefits of AI, particularly in the Consulting sector with the availability of Watsonx.<\/p>\n

According to the bank, H2 commentary will be key for the stock outperformance. The firm believes IBM would need to reaffirm its 2023 guidance, including revenue growth of 3-5% on a constant currency basis, an FCF of approximately $10.5 billion, and a 50-basis point year-on-year improvement in pre-tax income margin.<\/p>\n

BofA expects an in-line Q2 as consensus is already modeling tougher compares from last year\u2019s Q2 Mainframe launch, and slower growth in consulting. The firm sees Q2 Consulting revenue of $5.12B, compared to the consensus of $5.08B. \u201cWe expect overall software to grow low single digit (3% in 2Q) with Transaction Processing growth of low-mid single digit,\u201d added the firm.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. BofA Securities reiterates Buy rating on IBM ahead of Q2 BofA Securities reiterated its Buy rating and $152.00 price target on IBM (NYSE:) ahead of the company\u2019s upcoming Q2\/23 earnings report, scheduled on July 19. In the backdrop of a weaker macro environment, the firm anticipates IBM shares to outperform in H2\/23, driven […]<\/p>\n","protected":false},"author":1,"featured_media":35781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-35780","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBofA Securities reiterates Buy rating on IBM ahead of Q2 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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