Could Ibm Stock Soar 30%?

International Business Machines (IBM) has spent the past decade repositioning itself for the era of cloud computing and artificial intelligence. The company has acquired SoftLayer and Red Hat, shed underperforming businesses, and spun-off its managed infrastructure services business. Matthew Swanson of RBC Capital recently started IBM with an “outperform” rating and a $188 price target, representing an upside of nearly 30%. Swanson believes IBM’s software and consulting businesses are not being fully appreciated by investors as IT environments become more complex.