IBM stock is not a trading recommendation:
To accelerate the adoption of cloud security in organizations, International Business Machines Corporation (IBM), commonly known as IBM, announced the launch of its new Secure Access Service Edge (SASE).
After the news on Wednesday, the company's shares rose slightly in value. Moreover, it added slightly to its profits and closed at $ 139.91 in extended trading.
Last month, analyst Matthew Cabral confirmed a Buy recommendation for IBM stocks and raised its target price to $ 167 from $ 165, implying 19.4% upside potential from current levels.
The Wall Street community is cautiously upbeat on IBM stock with a moderate buyer consensus based on 3 buys and 6 holds. The average price target for IBM stocks at $ 154.33 means the stock has 10.4% upside potential from current levels.
$IBM receives a 9 out of 10 in the Smart Score, indicating that the company's stock has strong potential to exceed market expectations. IBM shares are up about 12.6% over the past year.