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IBM price target raised to $270 from $260 at BofA
The Fly

IBM price target raised to $270 from $260 at BofA

BofA raised the firm’s price target on IBM (IBM) to $270 from $260 and keeps a Buy rating on the shares after the company reported a “strong” Q4 with revenue and EPS slightly above Street expectations. For FY25, IBM guided revenue 5% or higher in constant currency, free cash flow to $13.5B and foreign exchange to be a 2% headwind, the analyst noted. IBM’s potential to deliver free cash flow well above expectations even with HashiCorp dilution gives the firm conviction that revenue and margins can continue to move structurally higher over the next few years, the analyst added.

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