A few months ago, International Business Machines (IBM) looked like collateral damage in the artificial intelligence boom.
Investors worried that the very technology powering the AI rally could quietly chip away at the businesses that have funded Big Blue for decades
That worry has faded fast, and one of Wall Street’s loudest tech voices now says the recovery has further to run. The real question is whether the catalysts behind that call can actually hold up. Wedbush lifts its IBM stock price target to $350 Wedbush raised its price target on IBM to $350 from $320 on June 2 and kept its Outperform rating, Seeking Alpha reported, pointing to what it called “incremental positives” from AI.
The new figure sits roughly 15% above where shares traded that week, Barchart noted, and analyst Dan Ives framed IBM’s blend of software, consulting, and infrastructure as a self-reinforcing “business flywheel.” Ives has spent the year arguing that the enterprise AI buildout is still early, a case he repeated in an interview with TheStreet. The AI scare that knocked down IBM stock Rewind to late February. IBM shares fell 13% in a single session after Anthropic said its Claude model could help modernize old COBOL code.