BMO Capital raised the firm’s price target on IBM (IBM) to $305 from $300 and keeps a Market Perform rating on the shares. The company’s Q3 performance was reasonable, including better Software growth helped by HashiCorp, a return to growth in Consulting, and solid margins and free cash flow, though Red Hat and TP – Transaction Processing – were disappointing, which could drive near-term consolidation in the shares, the analyst tells investors in a research note.
Claim 55% Off TipRanks
Trade IBM with leveragePublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IBM:
- Will Microsoft Stock Outshine IBM after Big Blue’s Blowout Earnings?
- Cautious Outlook on IBM: Hold Rating Amid Software Segment Challenges and Valuation Concerns
- IBM price target lowered to $295 from $310 at Stifel
- IBM price target raised to $315 from $310 at BofA
- Trump Administration Targets Equity Stakes in Quantum Firms. What It Means for Markets