IBM's 'turnaround has been successful enough,' analyst says in ending bearish call

Yesterday, analysts at Morgan Stanley said their bull case for International Business Machines Corp.'s stock had played out.

Yesterday, analysts at Morgan Stanley said their bull case for International Business Machines Corp.’s stock had played out.Combined, their new stances mirror the consensus view on IBM’s stock IBM. Of the 18 analysts tracked by FactSet who cover the name, 12 have hold-equivalent... Yesterday, analysts at Morgan Stanley said their bull case for International Business Machines Corp.’s stock had played out.Combined, their new stances mirror the consensus view on IBM’s stock IBM .

“The Underperform call has worked—over the past five years, IBM’s stock has declined 10% on an absolute basis, while the S&P SPX is up 42%,” she wrote. “By comparison, Accenture ACN —the undisputed leader in Cloud and Digital among large-cap IT Services companies – is up 72% over the past five years.”

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