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IBM Should Show Some Progress In Monday's Earnings Report

IBM Should Show Some Progress In Monday's Earnings Report - International Business Machines Corporation NYSE:IBM

The analysts at Drexel Hamilton suggested International Business Machines Corp. IBM 0.54% as being "on tap," adding they are "not expecting fireworks," but more progress in this transition.

IBM's 2Q16 earnings results announcement is scheduled on July 18 at 5:00 p.m. EST.

According to the analysts, the stock has underperformed the S&P 500 by 85 percent since the end of 2011; however, they believe the operating profit cycle bottomed in 1Q:16, the sales cycle reached a trough in 3Q:15 and the stock sports a rich dividend yield of 3.5 percent.

Related Link: Barclays Expects IBM's Cost Cuts To More Than Offset Weak Revenue

"We are not expecting fireworks from IBM's results on Monday but rather searching for further confirmation that the company's transition is on the right track," the report read.

The company has a Buy rating on the stock with $166 price target. At time of writing, IBM was down 0.66 percent on the day and trading at $159.27.

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Apr 2016Goldman SachsMaintainsNeutral
Apr 2016BernsteinMaintainsMarket Perform
Apr 2016Drexel HamiltonMaintainsBuy

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