IBM Is A Leader In AI: Credit Suisse Analyst Praises Revenue Guidance, M&A Focus
Portfolio Pulse from Anusuya Lahiri
Credit Suisse analyst Shannon Cross reiterated her Outperform rating and $162 price target for International Business Machines Corp (IBM). She expects IBM to maintain its 2023 revenue guidance of up 3% to 5%, with no significant change in IT spending since April. Cross also highlighted IBM's recent acquisitions and the launch of its AI Center of Excellence. She believes the company's Consulting unit will lead most AI engagements and that data collected by Apptio can be applied to IBM's foundational models.
July 11, 2023 | 5:02 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
IBM's stock may see positive movement due to the Outperform rating and $162 price target reiterated by Credit Suisse analyst Shannon Cross. The company's focus on AI and recent acquisitions are also seen as positive indicators.
The Outperform rating and price target from a reputable analyst like Shannon Cross can boost investor confidence in IBM. The company's focus on AI, its recent acquisitions, and the potential of its Consulting unit leading most AI engagements are all positive indicators for the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100