IBM shares gain as Bank of America lifts price target to $330

Bank of America analyst Wamsi Mohan raised his 12‑month price target for International Business Machines Corp. (IBM) from $315 to $330, keeping a Buy rating. The upgrade cited stronger software growth, a shift to higher‑margin software, anticipated synergies from IBM’s Confluent acquisition, and progress in quantum‑computing initiatives. Following the announcement, IBM’s stock rose about 3.5%, trading near $300. Other Wall Street analysts have also lifted targets, with Citigroup setting a $375 target and a consensus rating of “Moderate Buy.” Recent IBM developments highlighted include a partnership with Deloitte and Red Hat on cybersecurity, collaboration with Oak Ridge National Laboratory and Cleveland Clinic on quantum‑computer calculations for fusion materials, and an upcoming earnings report on July 22 that could confirm AI‑driven demand.

These analyst upgrades and IBM’s strategic initiatives are expected to bolster free‑cash‑flow generation and provide long‑term growth options, influencing investor sentiment ahead of the earnings release.