Morgan Stanley lowered the firm’s price target on IBM (IBM) to $252 from $256 and keeps an Equal Weight rating on the shares. Software results surprised to the downside, with Red Hat and TP decelerations “standing out,” the analyst tells investors. While Infrastructure and Consulting beats were “positive surprises,” IBM now has more work cutout to reaccelerate software growth to hit 5%-plus revenue growth in 2026, the analyst added.
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