Kyndryl Holdings price target raised to $35 from $30 at Scotiabank

Scotiabank raised the firm’s price target on Kyndryl Holdings (KD) to $35 from $30 and keeps an Outperform rating on the shares. The company reported its Q2 results, with revenues slightly above market expectations and a solid beat against adjusted pre-tax income estimates, the analyst tells investors. The firm continues to like the company as a solid long-term investment given the mission-critical nature of the business, its long-term client and partner relationships, and its domain-specific expertise.