Oppenheimer believes that investors aren’t appreciating enough the growth opportunities to come for International Business Machines . The investment firm initiated the technology giant at an outperform rating and $360 price target, implying upside of 24% ahead. Analyst Param Singh pointed to IBM’s pivot to software. He expects IBM’s software portfolio to grow at a 10% compound annual growth rate over the next two years, citing the company’s strength in its automation segment and improving growth in Red Hat, its open-source software provider subsidiary. IBM YTD mountain IBM YTD chart “Our differentiated view is based on IBM’s continued successful pivot to a software-centric company, and expect revenue/margin trajectory higher than consensus,” the analyst said. “We believe investors are too conservative on IBM’s transition, with the stock still covered by multiple legacy IT hardware/services analysts.” Meanwhile, IBM’s consulting revenue inflected positive in the third quarter of…
IBM and the Basque Government have announced plans to install Europe’s first IBM Quantum System Two at the IBM-Euskadi Quantum Computational Center in San Sebastian, Spain. The…