IBM Stock Keeps Gaining Ahead of Monday’s Analyst Meeting. Why There’s Reason for Optimism.

 IBM Stock Keeps Gaining Ahead of Monday’s Analyst Meeting. Why There’s Reason for Optimism.

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IBM stock keeps creeping higher after the tech company disclosed details on its pending spinoff of the IT services business Kyndryl—and ahead of a meeting with analysts next week.

The stock got an additional boost Friday from Jefferies analyst Kyle McNealy, who launched coverage of IBM (ticker: IBM) with a Buy rating and $170 target price, a potential gain of about 16% from Thursday’s close at $138.93. He thinks there’s a good case for the company to start growing its top line again after a long period of shrinking revenues.


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