UPDATE: Evercore ISI Starts Kyndryl Holdings Inc (KD) at In Line

(Updated - November 15, 2021 4:47 AM EST)

Evercore ISI analyst David Togut initiates coverage on Kyndryl Holdings Inc (NYSE: KD) with a In Line rating, PT $22.00.

The analyst comments "We are initiating coverage on Kyndryl (KD), which spun-off from IBM's Global Technology Services on Nov 4th, with an In-Line rating and $22 price target, 6% upside from the current stock price, utilizing a target CY 2023 EV/EBITDA multiple of 2 times. KD provides a portfolio of managed, outsourcing and cloud-delivered services to support client’s enterprise IT infrastructure. Beginning in 2025, KD could generate LSD organic revenue growth with high teens Adjusted EBITDA margin, although revenue will likely continue to decline through 2024, in our view."

For an analyst ratings summary and ratings history on Kyndryl Holdings Inc click here. For more ratings news on Kyndryl Holdings Inc click here.

Shares of Kyndryl Holdings Inc closed at $20.74 yesterday.

You May Also Be Interested In

• Lake Street Capital Markets Starts Research Solutions Inc. (RSSS) at Buy
• NextEra Energy (NEE) PT Raised to $67 at BofA Securities
• HSBC Starts Auna SA (AUNA) at Buy, 'Just what the doctor prescribed'