Analyse IBM stock

Confirmed: The consensus price target of 260.71 EUR is only around 3.0% above the current price of 253.04 EUR and is therefore clearly within the required ±25% plausibility range.

Quantitative plausibility: IBM is trading at a P/E ratio of 25.49, which is not cheap for a mature software/infrastructure profile, but is partially justified by stable free cash flow generation, high margins in the software and consulting mix and more defensive cash flows. Compared to the 52-week high of 290.57 EUR, the target does not imply an aggressive revaluation case, but rather a moderate normalization. Historically, a target in the...