IBM (IBM) stock jumped in morning trading, adding oomph to a big rally that started with a $1 billion award from the federal government for quantum computing late last month. On Monday, ******* ysts with Barclays initiated coverage of IBM stock with a buy rating.
IBM stock climbed more than 8% to 323.74 in morning trades on the stock market today. Shares have soared nearly 40% since May 21, when IBM announced a letter of intent late last week to utilize $1 billion in Department of Commerce funding to launch a quantum chip foundry.
The stock is approaching a 324.90 entry from a long consolidation, according to IBD MarketSurge. A move above that level would mark IBM stock's first new high since November.
The gains Monday come as ******* ysts with Barclays initiated coverage of IBM with an overweight, or buy, rating and 350 price target.
Barclays ******* yst Raimo Lenschow said the more than century-old tech giant has become a "new IBM" through its focus on software.
IBM stock climbed more than 8% to 323.74 in morning trades on the stock market today. Shares have soared nearly 40% since May 21, when IBM announced a letter of intent late last week to utilize $1 billion in Department of Commerce funding to launch a quantum chip foundry.
The stock is approaching a 324.90 entry from a long consolidation, according to IBD MarketSurge. A move above that level would mark IBM stock's first new high since November.
The gains Monday come as ******* ysts with Barclays initiated coverage of IBM with an overweight, or buy, rating and 350 price target.
Barclays ******* yst Raimo Lenschow said the more than century-old tech giant has become a "new IBM" through its focus on software.
2 days ago
