BUZZ-IBM rises after J.P.Morgan upgrades to 'overweight', lifts PT

IBM Corp

IBM Corp

IBM

0.00

** Shares of IBM IBM.N rise 3.17% to $260.21 premarket after J.P.Morgan upgrades stock rating to "overweight" from "neutral"

** Brokerage says demand for open-source platform Red Hat, a unit of IBM, may be weak due to slow server growth, but this will be offset by more companies moving to OpenShift, a platform developed by Red Hat to build and run applications in the cloud more efficiently

** Brokerage raises PT to $291 from $270, which represents a 15.4% upside to the stock's last close

** "We could see better consulting growth and margins as IBM converts its Service-as-Software backlog, supported by commercial adoption of AI-driven digital worker solutions that account for a growing share of the book of business," says J.P Morgan

** Average rating of 25 analysts is "buy", with a median PT of $287.09 - data compiled by LSEG

** Up to last day's close, IBM down 14.8% YTD


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.