IBM shares jump after JPMorgan upgrades rating and raises price target

JPMorgan Chase & Co. upgraded International Business Machines Corp. (IBM) from a neutral rating to overweight on June 23, 2026 and increased its price target to $291, up from $270. The analyst upgrade prompted a gap‑up in the stock, which opened at $261.58, well above the prior close of $252.22, and later traded around $264.81 on elevated volume.

Other analysts also raised their outlooks: Wedbush set a $350 target, HSBC lifted its target to $231, and a consensus of analysts now rates IBM as a “moderate buy” with an average price target near $307. Institutional investors such as Norges Bank and Capital World Investors added to their IBM holdings during the quarter. The combined analyst optimism reflects confidence in IBM’s enterprise software, AI initiatives and recent acquisitions.