Shares of Kyndryl Holdings Inc. (KD) surged over 5% on Tuesday, outperforming the broader markets, as analysts raised their price targets and ratings on the company following its latest quarterly results.
Scotiabank analyst Divya Goyal maintained a Buy rating on Kyndryl and set a price target of $35 on the stock. Meanwhile, Oppenheimer raised its target price to $43 from $37 while keeping an Outperform rating, citing the company's strong financial performance.
The positive analyst actions come after Kyndryl reported better-than-expected results for its most recent quarter, driven by robust demand and effective cost management initiatives. The IT services provider has been focusing on strategic growth areas and operational efficiency to drive shareholder value.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.