BofA raised the firm’s price target on IBM (IBM) to $260 from $250 and keeps a Buy rating on the shares. The firm, which expects results to be largely in line for fiscal Q4 with Street estimates, believes the quarter will likely see pressure from foreign exchange that will intensify in Q1 of FY25, the analyst tells investors in a preview. BofA reiterates a Buy on IBM, citing a continued turnaround, defensive portfolio, and attractive dividend.
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