IBM Stock Slumps as Citi Slashes Price Target 32% to $255

Citi analyst Fatima Boolani cut her price target on IBM (IBM) to $255 from $375, a 32% reduction, while maintaining a 'Buy' rating. The downgrade comes as the stock faces severe selling pressure.

Rating Change

• New Price Target: $255
• Previous Price Target: $375
• Reduction: 32%
• Rating: Buy (unchanged)

Analyst Rationale

Boolani cited expectations of near-term underperformance as the reason for the price target cut, though no further details were provided. The maintained Buy rating suggests long-term confidence.

Context

IBM stock is on track for its worst week in over 58 years, according to earlier reports. The broader tech sector is also under pressure. No other analysts have issued similar revisions recently.

What to Make of It

A significant price target cut from a key analyst signals near-term caution, but the Buy rating leaves room for recovery. Investors should monitor the stock's performance in the coming sessions.