On September 11, IBM rose 3.23% in regular trading, trading at $241.38/share, with turnover of $186 million. The rebound came after the prior session's sharp selloff triggered by a Q2 preliminary earnings warning.
On the news front, IBM and Lockheed Martin announced the establishment of a quantum innovation hub at ETH Zurich, centered on Switzerland's first IBM Quantum System Two computer hosted at the Swiss National Supercomputing Center. The facility is expected to be operational by year-end, with the collaboration agreement extending through the end of 2029. The hub will combine Lockheed Martin's innovations in quantum sensing and additive manufacturing with IBM's expertise in quantum computing and AI, while providing resources for Swiss industries, startups, and academia.
Additionally, IBM's subsidiary Red Hat recently secured multiple enterprise-grade AI and cybersecurity partnership orders, reinforcing its position as a core hub in enterprise AI infrastructure. Susquehanna raised its price target on IBM from $225 to $235, maintaining a Neutral rating, further supporting market sentiment. IBM currently carries an average analyst rating of Overweight with a mean price target of $245.29.
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