IBM Stock Price Target Raised At BofA, JPMorgan On Continued Turnaround Efforts: Retail Stays Neutral
JPMorgan analysts say their expectations remain “reasonable” going into the new year. They expect softness in the consulting and infrastructure business to impact the topline, which could result in a meager 1.6% revenue growth year-on-year.

Shares of International Business Machines Corp. (IBM) edged up by 0.4% in pre-market trade on Thursday after the company’s stock received multiple price target upgrades from Wall Street.
Analysts at Bank of America (BofA) Securities and JPMorgan bumped their price targets for the IBM stock citing ongoing turnaround efforts, according to a report by TheFly.
BofA analysts also maintain that while IBM expects its fourth-quarter results to be in line with Street’s expectations, it could face foreign exchange pressure in both the fourth quarter and the first quarter of fiscal year 2025.
Despite this, BofA analysts maintain a ‘Buy’ rating on the IBM stock, citing its defensive portfolio and attractive dividend. Their price target has been bumped to $260 from $250, implying an upside of 12%.
On the other hand, JPMorgan analysts say their expectations remain “reasonable” going into the new year. They expect softness in the consulting and infrastructure business to impact the top line, which could result in a meager 1.6% revenue growth year-on-year.
JPMorgan maintained a ‘Neutral’ rating on the stock but increased its price target to $233 from $227, implying an upside of 4%.
Retail sentiment on Stocktwits remained in the ‘neutral’ (48/100) territory at the time of writing, but message volume saw an uptick.

Some users were optimistic about IBM stock’s prospects.
However, one user sighed about the lack of value unlocking at IBM, unlike at GE Aerospace (GE).
IBM’s stock price has gained over 21% in the past six months, while its one-year returns have been slightly better, with gains of over 28%.
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