Ibm Stock Surges To Five-Year High

International Business Machines Corp. stock climbed to its highest level since April 1991 this week and stayed above $110 all week for the first time since August.

The stock’s strength helped drive the recent surge in the Dow Jones industrials average, although IBM fell from the $115.12-1/2 it hit in trading Tuesday while the Dow average and broader stock market has continued to rise.

IBM shares closed at $113.50 on the New York Stock Exchange Friday, unchanged from Thursday.

In the short term, the stock is more likely to follow broad market trends rather than be swung by things that IBM can control, analysts said Friday.

“It’s a pretty fairly priced stock,” said David Wu, analyst at Chicago Corp. who has a “hold” recommendation on IBM.

IBM stock had shuffled around the $80 to low $90 range for weeks until the Jan. 18 release of its fourth-quarter results, which showed a $2 billion profit and stronger sales for nearly all products and services.