Oppenheimer Initiates International Business Machines Corporation (IBM) With a Buy

Group 1: Investment Ratings and Price Targets - Oppenheimer initiated a Buy rating for International Business Machines Corporation (IBM) with a price target of $360 [1] - Evercore ISI reiterated a Buy rating for IBM with a price target of $315 [1] Group 2: Revenue Growth and Business Segments - The company's software portfolio is expected to achieve double-digit revenue growth, driven by strong automation and growth in Red Hat [2] - The consulting segment is projected to sustain low single-digit growth, alongside a recovery in application development and management [2] Group 3: Quantum Computing Developments - IBM and Cisco Systems are collaborating to link quantum computers over long distances, aiming to demonstrate the feasibility of this concept by the end of 2030 [3] - IBM unveiled its experimental quantum computing chip, Loon, which management considers a significant milestone towards making quantum computers practical by 2029 [4] Group 4: Company Overview - IBM is recognized as a global technology leader, focusing on software, consulting, and infrastructure solutions, with a strategic emphasis on hybrid cloud and artificial intelligence [4]