IBM (IBM) PT Raised to $305 at BMO Capital

BMO Capital analyst Keith Bachman raised the price target on IBM (NYSE: IBM) to $305.00 (from $300.00) while maintaining a Market Perform rating.

The analyst comments: "We thought IBM’s quarter was reasonable, including better Software growth helped by HashiCorp, a return to growth in Consulting, and solid margins/FCF, though Red Hat and TP were disappointing, which we think could drive near-term consolidation in the shares. Greater conviction in durability of organic software growth, including genAI traction, and/or in AI workloads running on IBM hardware, could help us become more constructive on the shares. Net, we remain Market Perform with a $305 target price, as we think risk/reward is balanced given the current organic run rate."

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