Technology giant International Business Machines Corporation (IBM) announced that it has collaborated with software company Adobe to provide no-cost online coursework and a digital badge credential to teenagers.
Following the news, shares of the company declined marginally on Wednesday. However, it pared its losses slightly to close at $139.42 in extended trade.
The program, which is being offered through IBM’s SkillsBuild, aims to help students, particularly from under-resourced backgrounds, learn basics of design principles and creativity tools. Further, the students will have access to tools like Adobe Photoshop, Adobe Illustrator and Adobe InDesign. (See IBM stock chart on TipRanks)
Last month, Credit Suisse analyst Matthew Cabral reiterated a Buy rating on the stock. The analyst, however, raised the price target to $167 from $165, which implies upside potential of 19.9% from current levels.
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 3 Buys and 6 Holds. The average IBM price target of $154.33 implies that the stock has upside potential of 10.8% from current levels.
IBM scores an 8 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained about 8.7% over the past year.
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