Is It Time to Buy IBM Stock?
International Business Machines (NYSE: IBM) beat expectations with its second-quarter earnings report last week, reporting solid revenue and adjusted earnings growth. While the consulting segment was a bit of a weak spot, a strong software segment and surprising growth from the infrastructure segment were enough to push revenue at constant currency up 4% year over year.
On top of beating analyst analysts for the second quarter, IBM bumped up its outlook for the full year. The company still expects to produce mid-single-digit revenue growth at constant currency, but it now foresees free cash flow above $12 billion. Previously, IBM's guidance called for approximately $12 billion of free cash flow.
With IBM becoming more confident in its ability to churn out free cash flow, is it time to buy the storied technology stock?
Source Fool.com
International Business Machines Corp Stock
The stock is one of the favorites of our community with 44 Buy predictions and 3 Sell predictions.
With a target price of 271 € there is a positive potential of 32.88% for International Business Machines Corp compared to the current price of 203.95 €.
