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IBM earnings: Outlook for 2020 amid soft software market is key

January 21, 2020

Soft spending on enterprise software could set up a big challenge for International Business Machines Inc. in 2020, so how Big Blue spins its forecast for the year will carry a lot of weight when the company reports earnings.

IBM IBM, +0.24% is scheduled to report fourth-quarter earnings after the market close Tuesday.

Recently, Evercore ISI analyst Amit Daryanani gave IBM a “no drama downgrade” to in-line from outperform and lowered his price target to $145 from $160 because he sees the company having a tough first half of 2020 along with fewer share repurchases because of debt.

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