JPMorgan Lowers IBM Target after Confluent Deal, Sees Balanced Risk/Reward [Yahoo! Finance]
International Business Machines Corporation (IBM)
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Source: Yahoo! Finance
International Business Machines Corporation (NYSE: IBM ) is included among the 14 High Growth Dividend Paying Stocks to Invest in Now JPMorgan Lowers IBM Target after Confluent Deal, Sees Balanced Risk/Reward On March 18, JPMorgan lowered its price recommendation on International Business Machines Corporation (NYSE:IBM) to $283 from $317. It reiterated a Neutral rating on the shares. The update followed the company's $11B acquisition of Confluent. The firm viewed the early completion of the deal as a positive step. At the same time, it pointed to recent compression in peer valuation multiples as a reason for the lower target. JPMorgan said IBM's risk/reward looks balanced at current levels. A day earlier, on March 17, The Wall Street Journal reported that IBM had closed its roughly $11 billion acquisition of the data-streaming company Confluent. The deal was first announced in December. It is meant to help businesses access and use their data more effectively for AI agents, or
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