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February 10th, 2004
Analysts at Merrill Lynch issue a “buy” rating on International Business Machines (IBM). The target price is set to $110. According to Merrill Lynch’s research note published this morning, International Business Machines has allocated half of its nanotechnology development budget for fundamental research of new product breakthroughs. The other half of the company’s nanotechnology budget has been deployed for improving the performance of existing computing products, such as hard disk drives and logic devices, the analysts mention.
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