IBM Gets Price Target Boost - But Wall Street Stays Cautious Ahead of Q2 Earnings

International Business Machines Corporation (NYSE:IBM) is one of the 10 Trending AI Stocks in Focus This Week. On July 16, Morgan Stanley reiterated the stock as “Equal Weight” and raised its price target on IBM to $253 per share from $233.

In a research note, the analysts noted that their firm believes that the stock is already reflecting more than just free cash flow upside. Moreover, since it is expected that there will be more mixed Software and Consulting results this quarter, the firm believes the setup into Q2 earnings leans “tactically cautious.”

“At $283, we believe FCF upside is already priced in, thus we lean tactically cautious into 2Q EPS; though 2Q is unlikely to fully break stock momentum, leaving us EW rated.”

International Business Machines Corporation (NYSE:IBM) is a multinational technology company and a pioneer in artificial intelligence, offering AI consulting services and a suite of AI software products.

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READ NEXT: 10 Trending AI Stocks on Wall Street and 10 Must-Watch AI Stocks on Wall Street.

Disclosure: None.