IBM: Hybrid Platform & Solutions And Consulting Steer The Ship After Kyndryl Spun-Off

David Ramos IBM (NYSE:IBM) separated its managed infrastructure services business to become an independent company named Kyndryl (KD). After the separation, IBM's core growth is driven by its Hybrid Platform & Solutions and Consulting businesses. I expect it can generate 4-5% revenue growth going forward. I initiate with a 'Buy' rating and a fair value of $180 per share. Portfolio Shift After Kyndryl Spun-off After spinning off the legacy managed infrastructure services business, IBM's software and cons ...