Kyndryl Holdings price target raised to $37 from $33 at Oppenheimer

Oppenheimer raised the firm’s price target on Kyndryl Holdings (KD) to $37 from $33 and keeps an Outperform rating on the shares. The firm is “incrementally positive” after the investor day, saying management announced a $300M share buyback program and highlighted a path to $1B of free cash flow in fiscal 2028 versus $300M in 2025. The analyst believes there could be upside to Kyndryl’s capital returns, noting the announced buyback represents just one year of free cash flow at current levels.