IBM Receives Upgrade from Evercore ISI IBM’s AI Growth Navigates Upward with Evercore Upgrade

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By Ronald Tech

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Amidst the swelling winds of artificial intelligence, IBM (NYSE:IBM) finds itself the recipient of a hearty upgrade. Evercore ISI, in an analyst note unleashed on a Friday, has hoisted the technology titan from “In Line” to “Outperform.”

Evercore’s analyst Amit Daryanani and squadron perceive IBM (IBM) ensconced in a favorable position for the year 2024. The company, they argue, holds a rare advantage in harnessing the power of AI tools to elevate productivity. While many others find themselves mired in the entanglements of data security and other quagmires, Evercore contends that IBM’s unique blend of consulting and software armaments shall ably dismantle these obstacles. This, in turn, shall facilitate the untroubled deployment of AI tools for enterprise customers, both on and off the premises.

Moreover, these AI gears promise to not only boost IBM’s software sales but also invigorate its consulting wing and smoothen internal machinations, Evercore avers.

Certainly, IBM has already embarked upon a strategic quest. Last December, the company inked an agreement with SoftwareAG for the acquisition of StreamSets and webMethods, a deal valued at €2.3B. The transaction, slated for completion in the second quarter of the year, stands to fortify Big Blue’s AI and hybrid cloud repertoire.

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