RBC Capital raised the firm’s price target on IBM (IBM) to $315 from $285 and keeps an Outperform rating on the shares ahead of its earnings. Q2 will likely be a software driven quarter with a focus on potential Red Hat re-acceleration, GenAI bookings, and staying on pace with free cash flow seasonality, the analyst tells investors in a research note. Traction around GenAI and Agentic orchestration and governance should remain in focus for the company’s positioning in enabling enterprise AI adoption, RBC added.
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