IBM price target raised to $200 from $195 at UBS

UBS raised the firm’s price target on IBM (IBM) to $200 from $195 and keeps a Sell rating on the shares. IBM reported mixed Q2 results with pressure across verticals like Federal impacting “Consulting” offset by the widely expected launch of the z17 late in the quarter that effectively nets each other out, the analyst tells investors in a research note. UBS is concerned 5% growth in 2026 could be tougher to achieve without software M&A going forward.