Reported 11 months ago
Goldman Sachs has started covering IBM stock with a Buy rating and a $200 per share price target, due to the company's portfolio modernization efforts. Analyst James Schneider from Goldman highlights IBM's AI product expansions, predicting a 16% upside and long-term revenue growth driven by AI and its core software portfolio. IBM has been investing in AI, with their AI business doubling quarterly, making strategic balance sheet moves, and capitalizing on the AI market trend, positioning itself differently from traditional hardware-driven services.
Source: YAHOO