On Thursday, based on improved market sentiment, Royal Bank of Canada Capital Markets maintained its “better than market” rating of IBM (IBM.US) and raised the target price from $211 to $250.
The Zhitong Finance App learned that on Thursday, based on improved market sentiment, the Royal Bank of Canada Capital Market maintained a “better than market” rating of IBM (IBM.US) and raised the target price from $211 to $250. The stock fell slightly in pre-market trading, and as of press time, it had a slight pre-market decline of 0.17%.
Matthew Swanson (Matthew Swanson), an analyst at Royal Bank of Canada Capital (RBC Capital), wrote in a letter to clients that in addition to rising market popularity, IBM will also provide strong free cash flow data when announcing third-quarter results later this month.
Additionally, Swanson said software sales will be more attractive, particularly from Red Hat (Red Hat). IBM management has said that Red Hat sales will accelerate again in the second half of this year, and the results for the first half of this year were mainly driven by higher-than-expected infrastructure spending and support for generative artificial intelligence.