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IBM Jumps after Oppenheimer Assigns New Street-High Price Target

IBM shares rose after Oppenheimer's analyst Param Singh assigned a Buy rating and a $360 price target, citing growth in software and consulting services, and AI technology benefits. Singh believes IBM's transition to a software-focused model is underestimated by the market, potentially leading to higher stock valuation. Wall Street's consensus is a Moderate Buy with an average price target of $300.58.

Tip Ranks·
US
IBM
+2.42%
Tip Ranks·
US
IBM
+2.42%

Citigroup Inc. Stock Outperforms Competitors On Strong Trading Day

Citigroup Inc. shares rose 1.10% to $98.70 on a strong trading day, outperforming some competitors. The S&P 500 Index increased by 0.98% and the Dow Jones Industrial Average by 1.08%. Citigroup's stock is 6.53% below its 52-week high. Trading volume was 14.3M, above the 50-day average of 12.9M.

Dow Jones·
US
C
+1.10%
Dow Jones·
US
C
+1.10%

Fitch Affirms IBM's IDR at 'A-'; Outlook Stable

Fitch Ratings has affirmed IBM's Long-Term Issuer Default Rating at 'A-' with a Stable Outlook, supported by its strong market position in hybrid cloud and AI. IBM's ratings benefit from solid free cash flow generation and strategic acquisitions, despite high core EBITDA leverage. Fitch forecasts gradual deleveraging through EBITDA growth while maintaining stable debt levels. IBM's revenue growth is expected in low to mid-single digits, driven by software and consulting services, with significant revenue visibility and financial flexibility for acquisitions.

Reuters·
US
IBM
+2.42%
Reuters·
US
IBM
+2.42%

IBM and Cisco Join Forces to Build a Quantum Internet

IBM and Cisco are collaborating to create a quantum internet by linking quantum computers into a powerful network. IBM will build the quantum computers, while Cisco will develop the networking technology. The goal is to have the system operational by the early 2030s, potentially revolutionizing internet technology. This network could aid in medicine development, advanced material design, and secure data sharing. IBM and Cisco will also support university research to accelerate progress.

Tip Ranks·
US
IBM
+2.42%
US
CSCO
+0.87%
Tip Ranks·
US
IBM
+2.42%
US
CSCO
+0.87%

NVIDIA couldn't save the US stock market, can he? Why this Federal Reserve official's speech is very important

New York Federal Reserve President Williams said he believes there is room for further adjustments to interest rates "in the near term." The phrase "in the near term" is somewhat ambiguous, but the most obvious interpretation refers to the December meeting. Although he may be expressing a personal opinion, the signals from the three key leaders of the Federal Reserve on critical policy issues are almost always approved by the Fed Chair. Issuing such a signal without Powell's endorsement would be a serious professional misstep

Wallstreetcn·
US
WMB
+1.19%
US
NVDA
-0.97%
Wallstreetcn·
US
WMB
+1.19%
US
NVDA
-0.97%