RBC Capital Maintains Outperform on IBM, Lowers Price Target to $179
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Matthew Swanson has maintained an 'Outperform' rating on IBM (NYSE:IBM) but lowered the price target from $188 to $179.
October 26, 2023 | 5:24 pm
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IBM's price target has been lowered from $188 to $179 by RBC Capital, though the 'Outperform' rating is maintained.
The lowering of the price target by RBC Capital could potentially create a negative sentiment among investors, which might put downward pressure on IBM's stock price in the short term. However, the maintained 'Outperform' rating indicates that the analyst still sees potential upside in the stock, which could offset the negative impact of the lowered price target.
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IMPORTANCE 80
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