Kyndryl Holdings added to ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI analyst David Togut added Kyndryl Holdings the the firm’s “Tactical Outperform” list prior to Q2 earnings due on November 7 after market close. For Q2, the firm expects Kyndryl to beat consensus revenue, gross margin and EBITDA expectations and thinks a FY24 guidance raise seems likely given that Kyndryl’s 3As – Alliances, Advanced Delivery and Accounts – continue to exceed plan. The firm has an In Line rating and $18 price target on Kyndryl shares.