JPMorgan Upgrades IBM to Overweight, Lifts Target to $291 on 2026 Software Acceleration
Updated
Updated · TheStreet · Jun 23
JPMorgan Upgrades IBM to Overweight, Lifts Target to $291 on 2026 Software Acceleration
3 articles · Updated · TheStreet · Jun 23
Summary
Brian Essex raised IBM to overweight from neutral and lifted his price target to $291 from $270, pointing to stronger confidence in software growth in the second half of 2026.
JPMorgan tied the call to Red Hat and OpenShift migration tailwinds, AI-driven container adoption and a reacceleration in automation demand linked to HashiCorp.
The upgrade adds to a bullish sell-side tone after Barclays last week reiterated a buy rating on IBM with a $350 target.
IBM is also drawing attention for quantum computing: it says it has more than 90 quantum systems deployed globally and this month announced a more than $10 billion, five-year investment.
That backdrop strengthened after President Trump signed two executive orders on quantum standards, federal deployment planning and post-quantum cryptography ahead of IBM earnings next month.