International Business Machines Corp. (NYSE:IBM): Sterne Agee believes that the market under appreciates the high barriers to the entry of International Business Machines Corp.’s business. The firm thinks the company will have a powerful upgrade cycle and easy comps in 2013 and they identify the stock as one of their top picks for 2013.
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Apple Inc. (NASDAQ:AAPL): Bernstein reduced their target on Apple Inc. as the firm concluded that the company is likely to grow by mid single digit percentage levels by 2015 unless they introduce major new products. The firm, however, thinks that iPhone and tablet growth should be strong in the next couple of years and they maintain an Outperform rating.
Chicago Bridge & Iron Company N.V. (NYSE:CBI): After the company provided in-line 2013 earnings per share guidance, Stifel Nicolaus increased their target on Chicago Bridge & Iron. The firm, however, believes that the book-to-bill ratio implied by the guidance was positive and they maintain a Buy rating on the stock.
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