Financial PerformanceAnalyst maintains a BUY rating with a price objective of $209, highlighting IBM's defensive portfolio, attractive dividend yield, and underappreciated AI portfolio.
Growth DriversSolid growth is expected in Software and Infrastructure, with Red Hat revenues growing and IBM Z performing ahead of prior cycles.
Strategic AcquisitionsIBM's acquisition of HashiCorp aligns with its focus on hybrid cloud and AI, potentially strengthening its cloud capabilities through synergies.