BofA Securities analyst Wamsi Mohan maintains $IBM Corp (IBM.US)$ with a buy rating, and maintains the target price at $250.
According to TipRanks data, the analyst has a success rate of 59.5% and a total average return of 11.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $IBM Corp (IBM.US)$'s main analysts recently are as follows:
Expectations are set for IBM to maintain its forecast for fiscal year 2024 when it reports its third-quarter results post-market on October 23. Estimates for the third quarter align with general market consensus, while projections for the fourth quarter are somewhat conservative. The outlook for fiscal year 2025 has been improved, reflecting a more optimistic stance on the company's margins and its potential to achieve its free cash flow objectives.
Sentiment surrounding IBM has been on the upswing throughout the quarter. Continued interest in thematic investments, alongside robust free cash flow, is noted. The focus remains on the company's enhanced software performance, especially contributions from Red Hat. Anticipation is high for a pickup in momentum in the latter half of the year, following a first half that benefited from an unexpectedly strong infrastructure showing towards the end of the refresh cycle and a boost from consulting aided by GenAI.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
