IBM stock is trading at 10-year highs, outperforming S&P 500; analysts have mixed rating.

From Nasdaq: 2024-09-03 09:01:56

Despite not being in the limelight of the AI revolution, IBM’s stock is trading at 10-year highs above $200 per share and has outperformed the S&P 500 with a 23.6% gain in 2024. The company’s robust fundamentals, strategic AI initiatives, and quantum computing advancements make it an attractive investment option. Analysts have an average rating of “Hold” for IBM stock, with a mean price target exceeded at $188.47. There are 4 “Strong Buy,” 1 “Moderate Buy,” 8 “Hold,” and 2 “Strong Sell” ratings. IBM’s growth forecasts, rising debt levels, and cloud competition pose challenges that should not be overlooked. Despite these, the stock is trading at reasonable valuations compared to the tech sector, with plenty of potential for long-term growth.



Read more at Nasdaq: This Blue-Chip Stock is at 10-Year Highs: Is it Still a Buy?