IBM in Focus as Bernstein Maintains Neutral Stance After Confluent Acquisition

Group 1 - IBM is acquiring all outstanding common shares of Confluent for $31 per share in cash, representing an enterprise value of $11 billion [2][3] - The transaction is expected to close by mid-2026 and is subject to normal regulatory and closing conditions, with both companies' boards approving the deal [3] - Confluent's largest shareholders, representing approximately 62% of the company's voting power, have signed voting agreements to support the transaction [3] Group 2 - Bernstein has reiterated its Market Perform rating on IBM with a price target of $280, maintaining a neutral view despite the acquisition announcement [1] - The firm analysts believe that while IBM has potential as an investment, other AI stocks may offer greater upside potential and carry less downside risk [4]