IBM may suffer from decelerating revenue growth and changing economic cycle dynamics, Morgan Stanley warned.
IBM may suffer from decelerating revenue growth and changing economic cycle dynamics that could make matching its recent outperformance harder, Morgan Stanley warned Wednesday. Analyst Erik Woodring downgraded the stock to equal weight from overweight. He also cut his price target by $4 to $148, which implies upside of just 1.9% from where the stock closed Tuesday.
5% growth, as 2022 tailwinds become headwinds and the company feels moderation in business units like consulting. Woodring also said a large-scale merger or acquisition has been left open as a possibility, though that doesn't mitigate concerns for how the company will perform in 2023. On top of that, Woodring said looking at the company's historical performance does not garner enthusiasm.
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