Analyst Amit Daryanani from Evercore ISI maintained a Buy rating on International Business Machines and keeping the price target at $315.00.
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Amit Daryanani has given his Buy rating due to a combination of factors, primarily highlighting IBM’s advancements in quantum computing. The collaboration between IBM and HSBC demonstrated a significant improvement in predicting bond trade execution, showcasing the practical business value of IBM’s quantum technology. This empirical evidence underscores IBM’s strong position in the quantum computing space, with their Heron processor leading to a 34% enhancement in prediction accuracy for HSBC.
Additionally, IBM’s substantial $1.0 billion order book for quantum computing is expected to grow significantly over the next few years, indicating a promising revenue stream. The company’s strategic partnerships and technological capabilities position them well in the competitive quantum landscape, further justifying the Buy rating. IBM’s ongoing innovations and market engagements are seen as underappreciated catalysts that could drive the stock’s future performance.
According to TipRanks, Daryanani is a top 100 analyst with an average return of 20.8% and a 67.41% success rate. Daryanani covers the Technology sector, focusing on stocks such as Apple, Hewlett Packard Enterprise, and Arista Networks.