What To Expect From IBM's Q2 Earnings? BofA Forecasts No Change In Annual Outlook
Portfolio Pulse from Lekha Gupta
BofA Securities analyst Wamsi Mohan provides an earnings preview for IBM's Q2 results, expecting no change in annual outlook. IBM shares have risen 12% YTD but lagged behind the SPX index. The analyst sees potential in IBM's Gen AI segment and expects robust revenue growth in Software and Consulting in the second half of 2024. IBM is expected to reaffirm its annual guidance, with a Buy rating and a price target of $209.
July 15, 2024 | 5:41 pm
News sentiment analysis
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POSITIVE IMPACT
Investors can gain exposure to IBM via FT Vest DJIA Dogs 10 Target Income ETF (DOGG). The positive outlook on IBM's earnings and growth prospects may indirectly benefit DOGG.
As DOGG includes IBM in its portfolio, the positive outlook on IBM's earnings and growth prospects may indirectly benefit the ETF. However, the impact is less direct compared to IBM's stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
BofA Securities analyst expects no change in IBM's annual outlook ahead of Q2 earnings. IBM shares have risen 12% YTD but lagged behind the SPX index. The analyst sees potential in IBM's Gen AI segment and expects robust revenue growth in Software and Consulting in the second half of 2024. IBM is expected to reaffirm its annual guidance, with a Buy rating and a price target of $209.
The analyst's positive outlook on IBM's Gen AI segment and expected robust revenue growth in Software and Consulting in the second half of 2024 are likely to boost investor confidence. The reaffirmation of annual guidance and a Buy rating with a price target of $209 further support a positive short-term impact on IBM's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to IBM via FT Vest Technology Dividend Target Income ETF (TDVI). The positive outlook on IBM's earnings and growth prospects may indirectly benefit TDVI.
As TDVI includes IBM in its portfolio, the positive outlook on IBM's earnings and growth prospects may indirectly benefit the ETF. However, the impact is less direct compared to IBM's stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50