Kyndryl Holdings upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded Kyndryl Holdings to Outperform from In Line with a price target of $26, up from $19. Kyndryl “distinguishes itself as a non-discretionary, legacy IT services company improving financially in a slowing global economy,” says the analyst, who cites the company’s strong execution on the initiatives of “Accounts, Alliances & Advanced Delivery” combined with increased visibility into the FY25 and FY26 revenue trajectory for the upgrade.