智通财经网·2026-01-06 03:39Group 1 - Jefferies upgraded IBM's rating from "Neutral" to "Buy" due to expected growth in its software business by 2026 [1] - The macro environment is turning more positive, driven by technological transformation and accelerated adoption of artificial intelligence (AI), leading to broad demand growth [1] - Management's outlook has become more optimistic compared to early 2025, supported by strong organic software growth, realization of synergies from acquisitions, and strategic wins in generative AI consulting projects [1] Group 2 - Key acquisitions by IBM, such as the completed acquisition of HashiCorp and the ongoing acquisition of Confluent, are noteworthy [1] - The integration of HashiCorp is complete, with expectations of achieving synergies and driving mid to high double-digit growth through IBM's distribution channels [2] - The ongoing acquisition of Confluent is expected to bring extensive software synergies in hybrid cloud, AI, automation, and data, helping to fill gaps in its real-time integration and security product portfolio [2]