IBM rises as Jefferies upgrades to 'buy'
ReutersJan 5, 2026 11:49 AM
Shares of tech firm IBM IBM.N up 1.4% at $295.68 premarket
Jefferies upgrades rating to "buy" from "hold"; raises PT to $360 from $300
New PT implies an upside of ~23% to stock's last close
Brokerage sees clearer path to software growth acceleration in 2026, driven by Red Hat momentum and synergy capture from recent acquisitions, including that of HCP and the pending Confluent deal
Management's tone more optimistic, with broad-based demand from tech transformation and accelerating AI adoption - Jefferies
IBM stock fell 1.5% in 2025
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