International Business Machines shares are trading higher after the company reported better-than-expected Q2 EPS results and issued FY23 guidance. Also, BMO Capital raised its price target on the stock from $150 to $152.
Portfolio Pulse from Benzinga Newsdesk
IBM shares are trading higher following better-than-expected Q2 EPS results and the issuance of FY23 guidance. BMO Capital has also raised its price target on the stock from $150 to $152.
July 20, 2023 | 2:37 pm
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POSITIVE IMPACT
IBM's stock is trading higher due to strong Q2 EPS results and positive FY23 guidance. The price target increase by BMO Capital also contributes to the positive sentiment.
IBM's better-than-expected Q2 EPS results and the issuance of FY23 guidance indicate a positive financial performance, which is likely to boost investor confidence and drive the stock price up. Additionally, BMO Capital's price target increase signals their positive outlook on the stock, further supporting the upward price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100