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IBM’s Profits are Booming–And We are Lowering Our Fair Value

March 29, 2016

[This article originally appeared on Forbes] Normally, when you see an analyst lowering his or her “target price” or “fair value estimate,” it’s a sign of the analyst’s decreased confidence in an investment. However, for an intelligent investor using a disciplined, scientific valuation framework like the one we teach in our training classes, it can …

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