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Wedbush Defends IBM (IBM): 'Sell-Off Unwarranted; Presents Great Buying Opportunity into 2026'
February 24, 2026 1:10 PM ESTWedbush analyst Dan Ives reiterated an Outperform rating and $340.00 price target on IBM (NYSE: IBM).
The analyst comments "IBM shares dropped 13% yesterday vs. the S&P down ~1%, the largest drop in over 25 years, as the company saw elevated competition risk from Anthropic after stating in a press release that its Claude Code tool could be leveraged to modernize legacy systems that run on Common Business-Oriented Language (COBOL), a major part of IBMs business model. The company has sold mainframe systems... More
