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.
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