Barclays Initiates Coverage of IBM with Overweight Rating and $350 Price Target
On June 1, Barclays initiated coverage on IBM (IBM) with an overweight rating and a 12-month price target of $350. The stock surged nearly 9% in response, reaching record highs. While quantum computing is often highlighted as the driver for optimism around IBM, Barclays' rationale centers on its stable enterprise software division.
