JP Morgan Upgrades IBM, Sets New $291 Price Target
JP Morgan analyst Brian Essex raised IBM's rating to buy with a $291 target, a 11.91% upside from the current price.
Key Points
- JP Morgan analyst Brian Essex upgraded IBM to a buy with a new price target of $291 on June 23, 2026.
- JP Morgan's $291 price target implies 11.91% upside from International Business Machines Corporation's ($IBM) current $260.03 share price.
- IBM's stock traded around $244.59 on Tuesday, with a market cap of about $237 billion and a P/E ratio of 22.3.
- Insiders like Gary Cohn and James Kavanaugh have been active, with notable buys earlier this year.
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JP Morgan has upgraded International Business Machines Corporation (NYSE:IBM) to a buy, setting a new price target of $291. The upgrade by analyst Brian Essex was announced on June 23, 2026. This move reflects a positive outlook on IBM's future performance.
JP Morgan vs. the S&P 500
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International Business Machines Corporation Stock Up 10.4%
Shares of NYSE:IBM traded near $244.59 on Tuesday. The company has a market cap of approximately $237.1 billion, with a price-to-earnings (P/E) ratio of 22.3. Its forward P/E is 18.7, and it has a beta of 0.665, indicating less volatility compared to the market. Over the past 52 weeks, the stock has ranged from a low of $212.34 to a high of $332.46. The 50-day moving average is $250.54, while the 200-day moving average is $273.45.
$IBM price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Other Institutional Activity in IBM
BlackRock, Inc. reduced its holdings in IBM by 307,619 shares, bringing its total to about 77.6 million shares valued at $18.8 billion. Meanwhile, Vanguard Capital Management LLC opened a new position with 60.8 million shares worth approximately $14.7 billion. State Street Corp also trimmed its stake by 401,800 shares, leaving it with 54.6 million shares valued at $13.2 billion. Geode Capital Management, LLC grew its holdings by 471,246 shares, ending with 23.1 million shares worth about $5.6 billion. Morgan Stanley significantly increased its position by 4.8 million shares, totaling 19.6 million shares valued at $4.8 billion.
Insider Buying and Selling at International Business Machines Corporation
Several IBM insiders have made notable transactions this year. On February 26, Gary Cohn, Vice Chairman, acquired 42,258 shares. James Kavanaugh, Senior Vice President and CFO, purchased 10,364 shares. Other insiders, including Nicolas Fehring, VP and Controller, and Anne Robinson, Senior Vice President, also made significant buys on the same date.
Analysts Set New Price Targets
On June 23, 2026, JP Morgan upgraded IBM to a buy with a $291 price target. Citigroup maintained its buy rating with a $375 target on June 3, while Barclays initiated coverage with a buy rating and a $350 target on June 1. RBC Capital maintained a buy rating with a $300 target on May 6. The consensus among 21 analysts is a buy, with an average price target of $290.89.
About International Business Machines Corporation
International Business Machines Corporation, known as IBM, provides integrated solutions and services across various regions, including the Americas, Europe, and Asia Pacific. The company operates through several segments: Software, Consulting, Infrastructure, and Financing. IBM offers hybrid cloud and AI platforms, strategy and technology services, and infrastructure solutions. Headquartered in Armonk, New York, with Mr. Arvind Krishna as CEO, IBM employs around 264,300 people.
Bottom Line
JP Morgan's upgrade of IBM to a buy and the new $291 price target highlight the firm's positive outlook on IBM's potential. Investors often track such analyst updates for insights into market sentiment. While this upgrade is a significant endorsement, it's important to remember that analyst ratings are just one piece of the investment puzzle.
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