Analysts renewing the target IBM price after its new high peak

Analysts renewing the target IBM price after its new high peak Originally Thestreet.

For investors looking for famous artificial intelligence programs such as Palantir, International Business Machines Corp. ((IBM)) It became quietly in stock of watching.

On June 18, IBM’s shares were closed with a record of $ 283.21. Year to date, the stock rose more than 27 %.

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The 114 -year -old company, which was once known for the central devices and devices, has spent the past few years turning itself into a modern program and consulting. She focused on strategic acquisitions, has come out of low -growth units and a high cost, and has restored her business to artificial intelligence, mixed cloud and institutional automation.

Today, IBM sells software tools that help companies build and manage artificial intelligence systems, including Watsonx, its platform for creating and training artificial intelligence models.

It also owns Red Hat, the open source program giant in 2019, which plays a major role in its mixed cloud strategy. Many IBM customers are large institutions and government agencies that look forward to simplifying operations through AI and cloud technology.

The IBM shares decreased by 6.6 % on April 24 after its profit report in the first quarter, but quickly recovered in the weeks that followed.

IBM has recorded revenues of $ 14.5 billion for the first quarter, an increase of 1 % over the previous year and more than analysts’ expectations. The modified profits per share came at $ 1.60, a decrease of 5 % on an annual basis.

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The technology giant warned of an “unconfirmed” operating environment, but it reaffirmed its expectations for the full year to obtain revenue growth of 5 % and 13.5 billion dollars in free cash flow, and the key to each of the possible profits and acquisitions.

“While no one is fortified against uncertainty, we enter this environment from the position of power and relative flexibility,” IBM CEO, IBM CEO, said during the April profit call. “Our customers manage the most important operations in the world. We have diversified through companies, geography, industries, and customers of large institutions in our well -being to move in the current climate.”

Bank of America and Emsey Mohan’s analyst raised its target price for IBM to $ 320 from $ 290, repeating a buying classification on stocks, according to a research note on June 18.

Although trading in highlands at all, Mohan believes that IBM “is still interesting due to the transformational initiatives that take place by the administration, and to determine the growth of Gen Ai, Agenic Ai (ultimately quantity), and strong FCF driven by internal productivity initiatives.”