IBM Stock: BMO Raises Target to $265, but Doubts Remain

TLDR BMO Capital raised its IBM stock price target to $265 from $230 while maintaining Market Perform. IBM reported third-quarter revenue of $17.1 billion and adjusted earnings of $2.95 per share, beating estimates. Software revenue increased 8%, but weaker underlying growth kept BMO cautious about the company’s outlook. IBM raised its annual free cash flow [...]

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