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IBM price target raised to $195 from $170 at UBS

UBS raised the firm’s price target on IBM (IBM) to $195 from $170 and keeps a Sell rating on the shares. Weakness in the US dollar and the beginning of the next z17 cycle should be positive for the company’s reported Q2 revenue growth relative to expectations, but it is unlikely to offset a mixed demand picture across both Software and Consulting, the analyst tells investors in a research note. Mixed checks indicate spending across different Consulting verticals, particularly government, is at an increasing risk of funding shortfalls, which risks dampening growth in the quarter, UBS added.

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