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At All-Time High, Is IBM On Way To $230 Per Share (IBM)

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By Jon C. Ogg Published
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International Business Machines Corporation (NYSE: IBM) just hit a new all-time high… again.  The prior high was $201.57 and now shares on Tuesday have even managed to get back above the $202.50 mark.  With Warren Buffett having taken a large IBM stake for Berkshire Hathaway Inc. (NYSE: BRK.A), and with that stake reportedly now being even larger, we cannot help but wonder if a fairly recent analyst call from Stern Agee for $230.00 in the stock is even more insightful and likely than when it was issued.

IBM’s market capitalization is now $234.4 billion and shares keep inching higher and higher. One aspect that is interesting is that Thomson Reuters has a consensus price target objective of only $200.76.  Analysts are playing catch up here on this one.

The company is under a new CEO and it continues to buy back its shares.  Buffett himself endorsed that share buyback.  When Stern Agee made the $230 IBM call, it was based on only a 13.5x multiple on its 2013 earnings estimate of $17.00 in earnings per share.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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