BMO Capital lowered the firm’s price target on IBM (IBM) to $290 from $350 and keeps a Market Perform rating on the shares. The firm does not foresee enough upside to move to a constructive stance at this juncture despite its view that IBM product breadth, brand AI, and quantum potential lower the stock’s volatility, the analyst tells investors in a research note. BMO adds it is lowering its price target to reflect compression in Software and IT Services multiples.
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