Guggenheim last night initiated coverage of Kyndryl Holdings (KD) with a Buy rating and $30 price target The company’s progress on profitability has been encouraging, particularly in a challenging macroeconomic environment, the analyst tells investors in a research note. Guggenheim believes Kyndryl is among the best positioned in the infrastructure outsourcing segment to “pivot to stability” over the medium-term. The firm says the company has reshaped its portfolio to elevate quality of its signings.
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