- The shares of IBM (NYSE: IBM) have received a $165 price target from BofA. These are the details.
The shares of IBM (NYSE: IBM) have received a $165 price target from BofA. And BofA analyst Wamsi Mohan increased the price target on IBM from $162 while maintaining a “Buy” rating on the shares.
Mohan noted that after the company reported a solid set of quarterly results and gave a strong outlook for 2022. Plus Mohan pointed out that IBM has made significant progress on portfolio changes, the portfolio is defensive, and it can outperform in a difficult macro environment.
Plus Mohan expects sustained revenue growth beyond 2022.
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