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Upgrade Alert for International Business Machines (IBM)

By David Diaz

International Business Machines (NYSE:IBM) was upgraded from Sell to Hold at Societe Generale today. The stock closed yesterday at $154.06 on volume of 2.2 million shares, below average daily volume of 4.3 million.

International Business Machines Corporation (IBM) provides computer solutions through the use of advanced information technology. The Company's solutions include technologies, systems, products, services, software, and financing. IBM offers its products through its global sales and distribution organization, as well as through a variety of third party distributors and resellers.

International Business Machines share prices have moved between a 52-week high of $176.30 and a 52-week low of $116.90 and closed yesterday at 32% above that low price at $153.98 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.7%.

International Business Machines (NYSE:IBM) is currently priced 2.7% above its average consensus analyst price target of $149.77. The stock should find initial support at its 50-day moving average (MA) of $145.51 and further support at its 200-day MA of $142.04.

SmarTrend is tracking the current trend status for International Business Machines and will alert subscribers who have IBM in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades International Business Machines

Ticker(s): IBM