IBM sees EPS of at least $20 by 2015

NEW YORK (Reuters) - IBM said it expects its profit to nearly double to over $20 a share by 2015, helped by the company's push into profitable technology services and software businesses.

International Business Machines Corp IBM.NY)N> Chief Executive Sam Palmisano told an annual investor briefing on Wednesday that the company expects earnings per share excluding items of "at least $20" for 2015.

IBM also reiterated its forecast for EPS of at least $11.20 for 2010.

The outlook was an update to IBM's long-term road map given in 2007, in which it targeted EPS of around $10-11 by 2010. The company reported EPS of $10.01 a share for 2009.

IBM shares were up 1.5 percent at $128.79.

(Reporting by Ritsuko Ando, editing by Gerald E. McCormick)