Analysts: IBM’s Revenue Declines Worsen and 3 More Research Notes to Check Out
International Business Machines (NYSE:IBM): Argus downgraded IBM to Hold from Buy due to worsening revenue declines, weak trends in growth markets, and slow data center transformation.
Advanced Micro Devices (NYSE:AMD): Bank of America Merrill Lynch downgraded AMD to Neutral from Buy, lowering its price target on the shares to $4.50 from $6; the firm said stagnation within the PC business is not enough to offset the console upside and that server traction could take some time.
Outerwall (NASDAQ:OUTR): Pacific Crest recommends that Outerwall shareholders sell the stock into recent strength driven by the emergence of an activist investor in the name; the firm doesn’t believe Outerwall can cut costs sufficiently enough to offset the deterioration of its business. Pacific Crest continues to believe that the stock is worth $32, assuming that the current Redbox trends continue.
Chicago Bridge & Iron (NYSE:CBI): William Blair raised its price target for Chicago Bridge & Iron to $84 from $71 and calls the stock its top pick entering third-quarter earnings; the firm sees an upside to the 2014 consensus earnings estimates and keeps an Outperform rating on Chicago Bridge & Iron stock.