International Business Machines (NYSE: IBM) hasn't seen much in the way of analyst upgrades over the past few years. The majority of analysts covering the stock rate it a hold, according to Yahoo! Finance. That's not too surprising, given that IBM has suffered from more than five years of declining revenue.
But IBM's transformation has been making progress, and the company expects to break its revenue decline streak in the fourth quarter. At least one analyst is taking notice. On Wednesday, RBC Capital's Amit Daryanani upgraded shares of IBM to "outperform," boosting his price target to $180. He sees 2018 as "a year of out-performance." That's music to longtime investors' ears.
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