International Business Machines Corporation (NYSE:IBM) is one of the 12 best cryptocurrency and blockchain stocks to buy. On June 20, Wedbush analyst Dan Ives raised the stock price target to $325 from $300. The adjustment comes amid expectations that the company is one of the major beneficiaries of the artificial intelligence revolution.
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While the stock has gained significantly year to date, Ives insists there is room for more gains. The company’s expanding AI and cloud initiatives will drive the increase. “We believe IBM is still under-owned and in the early stages of a renaissance of growth with AI the key driver,” Ives said.
Ives has echoed IBM’s $6 billion-plus generative AI book of business as a catalyst that should strengthen the company’s prospects. Additionally, the company supports 70 AI-infused workflows across finance, sales, and marketing areas. The analyst also expects the company’s hybrid cloud and AI architecture to enable continuous innovation.
International Business Machines Corporation (NYSE:IBM) is a technology and consulting company that provides a wide range of solutions focusing on hybrid cloud, AI, and consulting service areas. It also digitizes and automates paperwork across supply chains to enhance the management of documents across organizations and borders.
While we acknowledge the potential of IBM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None.
