International Business Machines Corp. (New York Stock Exchange symbol: IBM) The stock price is retesting the crucial multi-month resistance level, said Amsee Mohan, a Wall Street analyst from Bank of America Corporation (NYSE: Buck), repeated its 12-month bullish sentiment.
In a note to clients on Monday, July 6, Mohan maintained a buy rating and raised his 12-month price target to $330 from $315. At today’s price of $296.94, it’s IBM’s new target stock This indicates an increase of approximately 11.13% over the next 12 months.
Mohan highlighted several positive motivators behind the promotion. IBM is expected to modestly raise its FY26 guidance on both revenue and free cash flow (FCF).
As such, the analyst sees additional upside for IBM shares from faster-than-expected synergies related to the Confluent acquisition. Furthermore, Mohan noted stronger growth in the company’s software business and energy and storage segment within the infrastructure space.
According to the note, Confluent is expected to generate revenue of $340 million in its fiscal second quarter, representing about 5% software revenue growth. Mohan Confirm The continued shift of IBM’s mix toward higher-margin software, which drives strong free cash flow generation and provides long-term options from quantum computing initiatives.
IBM stock price forecast and forecast
Following Mohan’s bullish forecast for IBM stock, 17 Wall Street analysts have an average estimate of $302.94, based on… Data from TipRanks.
It’s possible Wall Street analysts are pointing to a moderate buy for IBM shares after consolidating over the past 12 months. At the time of reporting, IBM stock price is trading near the same resistance level set in 2025.
If IBM’s stock price is rejected again at this resistance, Wall Street analysts’ predictions for IBM’s stock price could be invalidated. However, if IBM’s stock price retests its peak this year, Mohan’s goal may be achieved.
