IBM Gets Price Target Boost — But Wall Street Stays Cautious Ahead of Q2 Earnings

International Business Machines Corporation (NYSE:IBM) is one of the 10 Trending AI Stocks in Focus This WeekOn July 16, Morgan Stanley reiterated the stock as “Equal Weight” and raised its price target on IBM to $253 per share from $233.

In a research note, the analysts noted that their firm believes that the stock is already reflecting more than just free cash flow upside. Moreover, since it is expected that there will be more mixed Software and Consulting results this quarter, the firm believes the setup into Q2 earnings leans “tactically cautious.”

“At $283, we believe FCF upside is already priced in, thus we lean tactically cautious into 2Q EPS; though 2Q is unlikely to fully break stock momentum, leaving us EW rated.”

IBM Gets Price Target Boost — But Wall Street Stays Cautious Ahead of Q2 Earnings

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International Business Machines Corporation (NYSE:IBM) is a multinational technology company and a pioneer in artificial intelligence, offering AI consulting services and a suite of AI software products.

While we acknowledge the risk and potential of IBM  as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IBM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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