JP Morgan Maintains Neutral on IBM, Lowers Price Target to $185
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Brian Essex maintains a Neutral rating on IBM and lowers the price target from $190 to $185.

April 25, 2024 | 5:43 pm
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NEUTRAL IMPACT
JP Morgan analyst Brian Essex maintains a Neutral rating on IBM, with a reduced price target from $190 to $185.
The adjustment in price target by JP Morgan reflects a cautious but not pessimistic outlook on IBM. The maintenance of a Neutral rating suggests that the analyst sees IBM as fairly valued at its current price, but the reduction in the price target indicates a slight adjustment in expectations, possibly due to market conditions or IBM's financial outlook. This news is likely to have a neutral impact on IBM's stock price in the short term, as it does not significantly alter the investment thesis but does adjust expectations slightly.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100