To: Johnny Canuck who wrote (59339 ) 5/24/2024 12:20:51 AM From: Johnny Canuck Read Replies (1) | Respond to May 23, 2024 4:02 PM ET| International Business Machines Corporation (IBM) Stock | By: Ahmed Farhath , SA News Editor IBM ) closed in red and snapped a six-day winning streak after having gained 3.2% over the last six trading sessions.-1.72% at $170.70 on Thursday, below its 52-week high of $199.18. The stock has gained 33.9% in value in the last 12 months.red for five trading days in May . In April, it closed negatively for 13 out of 22 sessions.Quant rating system has given IBM a "Hold" rating with a score of 3.24 out of 5.Wall Street community , five analysts have given IBM a "Strong Buy," while two are "Buy" on the stock. Nine analysts have given the stock a "Hold" recommendation, two have rated it "Sell," and two have rated it "Strong Sell."JR Research wrote in an April 26 report , "IBM has dropped toward levels last seen in January 2024, digesting three months of gains. There could still be downside volatility toward the $155 zone before I expect a more robust consolidation phase. However, the risk/reward has improved even as IBM needs to justify the $6.4B acquisition in enterprise value for HCP. With no anticipated dilution, IBM has significant flexibility in funding the deal with cash on hand of $19.3B. IBM management also guided for $12B in FCF for 2024, above last year's $11.2B. Therefore, I believe the market's pessimism seems overstated as investors assess the trajectory of HCP's growth thesis. With IBM stock clearly in a medium-term uptrend, I'm confident that the battering represents a solid opportunity for investors to add more shares."Share Print Comment Be the first to comment... Have a tip? Submit confidentially to our News team. Found a factual error? Report here. Nasdaq, S&P retreat from record levels on rate cut uncertainties; Dow sheds 600 points Netlist wins $445M jury verdict against Micron over patent New COVID FLiRT variants spike as FDA delays key vaccine meeting Lithium Americas drops amid short report from Bleecker Street Research Super Micro Computer gains amid Nvidia earnings; BofA reiterates Buy See More » IBM 170.67 -1.74% Post 170.90 0.13%
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