** IT software and consultancy services provider IBM IBM.N surpassed Q4 profit estimates on Wednesday, driven by robust demand in its software unit as businesses ramped up IT spending
** Shares of IBM up 9% at $249 in premarket trading
WIRED FOR SUCCESS
** Goldman Sachs ("buy," PT: $275) expects revenue growth and strong free cash flow, driven by impressive bookings and AI performance, with long-term growth from software and market share gains in consulting
** BofA Global Research ("buy," PO: $270) sees IBM's potential to deliver higher-than-expected free cash flow $(FCF)$ despite HashiCorp HCP.O acquisition, with revenue and margins likely to improve structurally over next few years
** J.P.Morgan ("neutral," PT: $244) sees software segment performing well, supporting higher valuations, with significant growth expected later in the year from AI-enhanced z17 mainframe and M&A activity
** RBC Capital Markets ("outperform," PT: $276) sees co focusing on software execution in early 2025, with increase in consulting and infrastructure spending
(Reporting by Rashika Singh in Bengaluru)
((rashika.singh@thomsonreuters.com))
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