IBM price target raised to $144 from $140 at Stifel

Stifel raised the firm’s price target on IBM to $144 from $140 and keeps a Buy rating on the shares after Q2 and guidance were “largely in-line,” with software an area of relative strength and infrastructure relatively weak. The firm’s 2023 and 2024 estimates are increased “slightly,” primarily driven by software, the analyst tells investors.