What To Know About Evercore ISI Group's Upgrade of IBM
Portfolio Pulse from Benzinga Insights
Evercore ISI Group upgraded IBM (NYSE:IBM) to Outperform with a new price target of $200.00, up from $165.00. IBM's shares have risen 2.21% to $170.53 recently. The new target suggests a 17.28% potential upside. IBM is a major IT services provider, operating in 175 countries with about 350,000 employees, and has significant market influence, managing a large portion of global credit card transactions and wireless connections.
January 19, 2024 | 5:00 pm
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POSITIVE IMPACT
Evercore ISI Group upgraded IBM's rating to Outperform and increased the price target from $165.00 to $200.00, suggesting a significant upside potential from the current price.
The upgrade by Evercore ISI Group is a strong positive signal for investors, indicating a belief in IBM's potential to outperform the market. The substantial increase in the price target could lead to increased investor confidence and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100