IBM price target lowered to $300 from $315 at RBC Capital

RBC Capital lowered the firm’s price target on IBM (IBM) to $300 from $315 and keeps an Outperform rating on the shares. The company’s headline numbers were positive, but investor focus heading into and now coming out of the quarter is on Red Hat, where growth decelerated, the analyst tells investors in a research note. The management highlighted 20% Red Hat bookings growth as a positive sign for 2026, but Q4 is likely to continue to see some consumption headwinds, the firm added.