IBM price target raised to $155 from $148 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on IBM to $155 from $148 and keeps a Market Perform rating on the shares after its Q4 results. The quarter was "reasonable" with solid revenue growth and outlook for FY23, particularly in Consulting, though its reported margins and free cash flows were "lackluster", the analyst tells investors in a research note. BMO Capital adds that it would consider becoming more constructive on the stock, though the firm still questions the Consulting bookings growth potential in a weaker macro.