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Benzinga Explains Why Goldman Sachs is Optimistic About IBM

Benzinga Explains Why Goldman Sachs is Optimistic About IBM
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Goldman Sachs analyst James Schneider initiated coverage on International Business Machines Corporation (IBM) with a Buy rating and a $200 price target, citing a cyclical correction in the industry driven by IT spending constraints and a shift towards AI-focused CapEx. Schneider believes generative AI will eventually benefit the sector, but it may take time due to technical debt. Despite the risks, there are significant opportunities in select names. IBM pays a dividend yielding 4.24% annually and may have a buyback program in place, which could support stock prices. As of the latest check, IBM shares were up 1.73% to $175.45. Analyst ratings for IBM may vary, with Goldman Sachs initiating coverage at a Neutral. It is important to do thorough research before making investment decisions.

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https://uk.investing.com/news/stock-market-news/why-goldman-sachs-is-bullish-on-ibm-3560679

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