RBC Lifts IBM Price Target to $361, Cites Strong Year-End Execution and FCF Upside
RBC Capital has increased its price target on IBM to $361 from $350 while keeping an Outperform rating, pointing to a strong finish to the year, better-than-expected software results - notably in the Data segment - and outperformance on free cash flow. The stock is trading near $294.16 with a price-to-earnings ratio of 35.23. Multiple other banks a…