In a recent update, Goldman Sachs has maintained its "Buy" rating on IBM while raising its price target. The new price target for IBM (IBM, Financial) is set at $310, up from the previous target of $270. This adjustment signifies a 14.81% increase in the price target.
The decision to maintain the "Buy" rating and raise the price target was announced by James Schneider, an analyst at Goldman Sachs. The adjustment reflects a positive outlook for IBM's performance in the near term.
This update comes as IBM continues to focus on its strategic initiatives and technological advancements, which are expected to drive growth. Investors and market watchers will be keen to see how IBM (IBM, Financial) performs in the coming months as it works towards achieving this new price target.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for International Business Machines Corp (IBM, Financial) is $258.41 with a high estimate of $325.00 and a low estimate of $170.00. The average target implies an downside of 10.59% from the current price of $289.01. More detailed estimate data can be found on the International Business Machines Corp (IBM) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, International Business Machines Corp's (IBM, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for International Business Machines Corp (IBM, Financial) in one year is $164.63, suggesting a downside of 43.04% from the current price of $289.005. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the International Business Machines Corp (IBM) Summary page.
