Could IBM Stock Surge Another 16%?
Shares of International Business Machines (NYSE: IBM) have soared more than 60% over the past year as the company's cloud and artificial intelligence (AI) strategies meshed with investors. IBM has not only returned to consistent revenue and free-cash-flow growth, but growth is now starting to accelerate. Revenue was up 3% adjusted for currency in 2024, and it's expected to rise at least 5% in 2025 despite an uncertain economic backdrop.
Image source: Getty Images.
Last week, an analyst at Wedbush boosted his price target on IBM stock from $300 to $325, implying an additional 16% upside from Friday's closing price. While analyst price targets shouldn't carry much weight with investors, the reason behind the price target boost should be of interest. Wedbush calls IBM an "AI winner" and expects the company's "growth renaissance" to continue.
Source Fool.com
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