) has gained new Street high price targets from Goldman Sachs and Bank of America, reflecting growing confidence in the company's performance.
Bank of America's analysts said in a note that they expect strength in IBM's software segment, particularly driven by improving trends in transaction processing and Red Hat services. The firm noted that while consulting revenues are expected to be flat year-over-year due to a pullback in discretionary projects, the company's consulting business will benefit from backlog conversions and opportunities in generative AI."Reiterate Buy on continued turnaround , defensive portfolio, attractive dividend," stated the bank.
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