Forecast Of The Day: IBM’s Global Technology Services Revenue

+8.07%
Upside
134
Market
145
Trefis
IBM: International Business Machines logo
IBM
International Business Machines

What?

IBM’s (NYSE:IBM) Global Technology Services revenue declined from around $27.4 billion in 2019 to $25.8 billion in 2020. We expect the number to rise to about $26 billion in 2021 and to around $27 billion in 2022.

Why?

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While sales were impacted in 2020 due to the Covid-19 pandemic, we expect long-term growth to be driven by IBM’s leadership in the integration software space and stronger demand for cloud services.

So What?

We think IBM stock is slightly undervalued at current levels. We value IBM stock at about $146 per share, about 14% ahead of the current market price.

See Our Complete Analysis For IBM

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