Citi Sees IBM Strengthening its Position in the Emerging Quantum Computing Market

International Business Machines Corporation (NYSE:IBM) is included among the 10 No-Brainer Dividend Stocks to Buy.

On June 3, Citi analyst Fatima Boolani raised her price recommendation on International Business Machines Corporation (NYSE:IBM) to $375 from $285. She reiterated a Buy rating on the shares. The move followed IBM’s announcement that it plans to invest an additional $10 billion over the next five years to strengthen its position in quantum computing and advance its long-term strategy in the field. According to Boolani, committing $10 billion in new investment so soon after securing a significant CHIPS Act grant “signals high confidence and preparedness” toward capturing what she described as an approximately $850 billion quantum market that is likely to receive strong federal support. The analyst also said IBM remains “underappreciated” and “misunderstood.”

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