Buy Rating on IBM: Anticipated Growth and Strategic Developments

Evercore ISI analyst Amit Daryanani maintained a Buy rating on International Business Machines (IBMResearch Report) yesterday and set a price target of $215.00.

Amit Daryanani’s rating is based on a comprehensive evaluation of International Business Machines’ (IBM) strategic positioning and recent business developments. He expresses increased confidence in IBM’s ability to capitalize on growth opportunities and navigate through industry tailwinds. Key insights from his discussion with IBM management reveal several growth levers for the company, such as an anticipated acceleration in consulting services in the second half of the year, double-digit growth expectations for Red Hat (RHT), and the potential expansion in the burgeoning field of Generative AI.

Furthermore, Daryanani notes that IBM’s mainframe business, while traditionally expected to decline modestly, shows signs of sustainable growth due to increasing capacities, workload migration, and pricing power. Additionally, he anticipates positive contributions from the HashiCorp deal in the longer term. These factors, combined with a robust backlog and favorable market conditions, underpin his Buy rating for IBM, indicating a belief in the company’s strong future performance and stock appreciation potential.

In another report released on May 16, Stifel Nicolaus also maintained a Buy rating on the stock with a $190.00 price target.

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International Business Machines (IBM) Company Description:

Founded in 1911, New York-based International Business Machines Corp. is an information technology and consulting company, which provides integrated solutions and services worldwide. It operates through the following segments: Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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