IBM price target raised to $280 from $260 at BMO Capital

BMO Capital raised the firm’s price target on IBM (IBM) to $280 from $260 and keeps a Market Perform rating on the shares. The company reported a reasonable quarter though the FY25 free cash flow guide of $13.5B, which was above investor expectations, and its free cash flow growth is being driven by profit, even including HashiCorp dilution, the analyst tells investors in a research note.