NEW YORK (TheStreet) -- Shares of International Business Machines Corp. (IBM) are up 1.29% to $192.54 after CEO Virginia Rometty told the New York Times that she and the company have a clear vision for how to pursue another generation of growth.
The company, she told the Times, "has jettisoned less profitable business and made major commitments in new fields - like technology to help customers find insights in today's flood of digital data, and cloud-style computing in which processing and software is delivered remotely over the Internet. Cloud computing, she insists, can be converted to an opportunity for IBM."
"We are transforming this company for the next decade," she said.
TheStreet Ratings team rates INTL BUSINESS MACHINES CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTL BUSINESS MACHINES CORP (IBM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."