12:32 PM EDT, 07/15/2024 (MT Newswires) -- International Business Machines ( IBM ) could reiterate its 2024 outlook as the company is expected to post in-line Q2 results, UBS Securities said in a Thursday note.

The investment firm said it expects IBM ( IBM ) to maintain its full-year revenue growth guidance of the low-end of its 4% to 5% range, "roughly" in-line with the investment firm's estimate of $15.7 billion.

In addition, UBS said its checks point to IBM's ( IBM ) Q2 revenue being in-line with its $15.7 billion estimate. According to the investment firm, the company faces a potential downside risk in consulting revenue if IT spending remains soft but this can be offset by a modest upside in IBM's ( IBM ) software business. UBS estimated a 5.8% growth for the company's consulting business at constant currency, and 6% for the software business.

The investment firm said it also expects IBM's ( IBM ) Q2 EPS to be in-line with its $2.23 estimate.

IBM ( IBM ) is set to release its Q2 results on July 24.

UBS Securities has a sell rating an $130 price target on IBM ( IBM ) stock.

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