Analysts: IBM’s Weak Third Quarter and 3 More Research Notes to Look At
International Business Machines Corp. (NYSE:IBM): Credit Suisse lowered estimates on IBM following weaker-than-expected third-quarter results. The firm remains concerned about a weak free cash flow and a less effective mix in software and hardware performance, and lowered the price target on IBM shares to $160 from $175 with an Underperform rating.
Amarin Corp. (NASDAQ:AMRN): Jefferies lowered its price target for Amarin shares to $4 from $20 after the company’s Vascepa drug was rejected by a Food and Drug Administration panel for the ANCHOR indication; the firm views the panel outcome as a “major negative” and sees a financing overhang on Amarin. Jefferies keeps a Buy rating on the stock.
Best Buy Co. (NYSE:BBY): Oppenheimer upgraded Best Buy to Outperform from Perform and raised its price target for the shares to $50 from $36 based on expectations that the company’s turnaround still has “substantial legs” and the belief that Best Buy’s top-line trends are now improving.
Akamai Technologies Inc. (NASDAQ:AKAM): DA Davidson upgraded Akamai to Buy from Neutral due to strong market trends toward digital content over the Internet, new value-added software applications, competitive differentiation, and valuation. The firm raised its price target for Akamai shares to $62 from $55.
Don’t Miss: Analysts Were Right, Q3 Was Hard for IBM.