Stifel analyst David Grossman lowered the firm’s price target on IBM (IBM) to $295 from $310 and keeps a Buy rating on the shares. Revenue and EPS beat expectations, driven by mainframe and consulting, and IBM made a “very modest increase” to 2025 guidance, the analyst noted. Fundamentally, the business remains “solid,” but defensive-minded investors may experience some short-term softness as the stock having been up 18% over the trailing seven weeks created a difficult set-up and the firm says it is “not surprising” to see the stock re-rating down.
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