IBM Leads as Analysts Lift Targets

Analysts raised their consensus target price on IBM to $252.09 from $243.09 this week. That is a $9 jump and the sharpest single-week move among the large-cap names in the latest round of changes. The stock carries a market cap of $228bn and short interest of just 2.5% of free float, giving bears little hold on the name.

The upgrade in IBM targets arrives alongside solid activity in the broader technology supply chain. Taiwan export orders hit a record $114bn in September, up 62% year-on-year, the largest September on record since 1984. That order boom gives tech suppliers and semiconductor equipment makers a tailwind heading into the final quarter.

Lam Research saw its consensus target trimmed slightly, to $371.23 from $376.77. Short sellers have minimal exposure there, with SI at just 2.1% of free float.

NIKE received a small target lift to $36.50 from $36.28. Short interest sits at 8% of free float, higher than most large-caps, reflecting lingering doubts about its turnaround. AT&T saw its target cut, while Las Vegas Sands dropped to $51.87 from $53.55. Pennsylvania online poker revenue rose 46% year-on-year in September, though that market is too small to move the needle for Sands directly. Tesla target edged up to $399.67.