IBM is trading at $237.90 (+3.7%) following reports of a major defense contract and a recent analyst upgrade from UBS.
- Shares hit an intraday high of $238.79 (+4.13%), rebounding from a sharp 13% decline on February 23 triggered by AI disruption concerns in the consulting sector.
- While UBS recently upgraded the stock to Neutral with a $236 target, other analysts maintain a bullish long-term outlook with price targets between $319 and $325.
- The move is supported by broader market strength, with the S&P 500 and Nasdaq gaining 0.85% and 1.26%, respectively.