$ibm to 180 by year end?

Over the last 5 years of crappy, quarter-over-quarter disappointment (every freaken quarter since Ginni took over). But they are transitioning, and fundamentally it seems like its working. Regardless of the glowing negatives, the stock has a bright spot or so history would suggest.

Assuming estimates hold, IBM should do eps around 15.75 (consensus 15.73).  Below is their 5 year trailing PE. 

Simple math: 11.4 x 15.73 = 179.32

Taking the lowest trailing multiple to the low end range of year end eps, we have an interesting target price by year end.

This would also support a technical move toward an upward resistance trend.

So yeah, bullish ibm into the year's end. (Hopefully by then their transition is seeing traction amd they see multiple expansion. Setting up for a great 2016. But I will settle for 180.)