Ticker, IBM
DEPARTMENTS
IBM is positioned to get back on track in 2000, according to Salomon Smith Barney’s server and enterprise hardware analyst.
We are maintaining our $0.75 and $4.40 EPS for 1Q00 and 2000, respectively, along with a $5.05 EPS estimate for 2001. We reiterate our Buy, Medium Risk (1M) rating and price target of $155, 35x our 2000 EPS estimate.
Y2K had a greater impact on IBM than anticipated, causing revenues to decline 4 percent. But while IBM missed revenue expectations in 4Q99, it exceeded earnings
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