BofA Securities reiterated its Buy rating and $152.00 price target on IBM (NYSE:IBM), anticipating the company’s shares to outperform during tough economic conditions, driven by its improving financial performance.
The analysts emphasized IBM’s revenue growth and free cash flow improvement, defensive portfolio, which is expected to help the company perform well during a recession, as well as its attractive dividend yield.
The company will report its Q1/23 earnings results on April 19, with Wall Street analysts expecting EPS of $1.26 and revenue of $14.36 billion.