IBM Shares Soar 5% as J.P. Morgan Raises Price Target to $291
IBM•IBM•IBM•IBM•J.P. Morgan upgraded IBM to overweight from neutral and raised its December 2027 price target to $291 from $270, citing stronger-than-expected software revenue now comprising 45% of sales and driving two-thirds of profit. IBM shares jumped over 4% on the upgrade and bullish outlook.
J.P. Morgan raised its rating on IBM from neutral to overweight and lifted the price target from $270 to $291 for December 2027, reflecting increased confidence in the company’s growth prospects.
Software now represents roughly 45% of IBM’s revenue and contributes about two-thirds of consolidated profit, positioning it as the primary earnings driver.
IBM shares climbed more than 4%, reclaiming key moving averages as investors responded positively to the upgrade and stronger software outlook.
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