By Naomi Buchanan
Publication Date: 2026-06-01 16:33:00
IBM stock surged on Monday after Barclays initiated coverage with a bullish outlook for the storied tech giant.
The stock jumped 10%, extending gains from last week. Barclays analysts’ bull case doesn’t rest on IBM’s quantum computing potential, but instead a recently unloved area of the tech software.
“Our core thesis is that IBM has created a stable growth engine around its very defensible software portfolio. This creates solid future growth but also better margins,” the analysts wrote, adding, “Quantum represents a very interesting option value with IBM being an early leader.”
The note marked Barclay’s initiation of coverage with an overweight rating and a $350 price target, a roughly 11% upside from where the stock opened Monday’s session.
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