IBM rises after J.P.Morgan upgrades to 'overweight', lifts PT

International Business Machines

23/06/2026 10:51

** Shares of IBM IBM.N rise 3.17% to $260.21 premarket after J.P.Morgan upgrades stock rating to "overweight" from "neutral"
** Brokerage says demand for open-source platform Red Hat, a unit of IBM, may be weak due to slow server growth, but this will be offset by more companies moving to OpenShift, a platform developed by Red Hat to build and run applications in the cloud more efficiently
** Brokerage raises PT to $291 from $270, which represents a 15.4% upside to the stock's last close
** "We could see better consulting growth and margins as IBM converts its Service-as-Software backlog, supported by commercial adoption of AI-driven digital worker solutions that account for a growing share of the book of business," says J.P Morgan
** Average rating of 25 analysts is "buy", with a median PT of $287.09 - data compiled by LSEG
** Up to last day's close, IBM down 14.8% YTD

 (Reporting by Akriti Shah in Bengaluru)
 ((akriti.shah@thomsonreuters.com ; X, formerly Twitter: @AkritiShahh))