Stifel analyst David Grossman raised the firm’s price target on IBM (IBM) to $325 from $295 and keeps a Buy rating on the shares after the company announced an agreement to acquire Confluent (CFLT) for $11B in cash. IBM historically gets optimal leverage from targets that have challenges penetrating large enterprises and significant potential cost synergies, says the analyst, who calls the acquisition a “solid deal” for IBM.
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