IBM upgraded by JPMorgan and Morgan Stanley, shares react to stronger AI and software story

JPMorgan lifts IBM to Overweight with a higher price target and Morgan Stanley raises its target as well, underscoring the AI and software case while the NYSE-listed shares trade notably higher today.

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-23, 20:47.

International Business Machines Corporation (US4592001014) is drawing fresh analyst support on Tuesday. JPMorgan has upgraded the NYSE-listed group to Overweight and lifted its price target, while Morgan Stanley raises its own target as investors focus on AI and software momentum.

What JPMorgan and Morgan Stanley say

JPMorgan analyst Brian Essex upgraded IBM from Neutral to Overweight and increased the price target to 291 US dollars from 270 dollars, citing greater confidence in software acceleration and AI-driven growth in the coming years, according to a JPMorgan-focused analyst report summary. The note highlights IBM’s positioning in hybrid cloud, automation and AI as key drivers for a more robust revenue profile.

On the same day, Morgan Stanley lifted its IBM price target to 267 dollars from 225 dollars and reiterated an Equalweight rating, pointing to improving fundamentals and benefits from enterprise AI projects while still seeing valuation as balanced, as reported by MarketScreener’s compilation of analyst moves. The combination of an outright upgrade and a target hike from two major Wall Street banks adds weight to IBM’s AI narrative versus peers like Dell and Hewlett Packard Enterprise.

How IBM shares trade today

IBM shares recently traded around 264.40 US dollars on the NYSE, implying a gain of roughly 3.6 percent versus the intraday low of 255.26 dollars and positioning the stock about 1.2 percent below today’s high near 267.53 dollars, according to live quote data from Robinhood’s IBM overview. That puts IBM’s equity value at approximately 248.5 billion dollars and reflects trading volume of around 8.2 million shares, modestly above its recent average.

MarketScreener shows a previous official close at 252.22 dollars and a latest indicated level near 263.29 dollars, equating to a daily move of more than 4 percent as of late Monday trading, underlining how quickly the stock has reacted to a cluster of AI- and quantum-related headlines in June, including IBM’s participation in OpenAI’s Daybreak cybersecurity program and renewed attention from U.S. policy initiatives around quantum computing.MarketScreener IBM profile

The product and business focus

IBM generates a significant share of its revenue from software platforms such as Red Hat OpenShift, which underpins hybrid cloud deployments for enterprise clients across industries. The company also monetizes consulting projects around AI, cybersecurity and modernization of legacy workloads, alongside its zSystems mainframes and storage hardware.

Where the IBM shares trade today

The IBM shares (US4592001014) trade on 2026-06-23 at about 264.40 US dollars on the NYSE.

Key data on the IBM shares

• Company: International Business Machines Corporation
• ISIN: US4592001014
• WKN: 851399
• Ticker: IBM
• Trading venue: NYSE
• Price (as of 2026-06-23, 20:30): 264.40 USD
• Market cap: 248.51 billion USD (as of 2026-06-23)
• Sector / industry: Information Technology / IT Services & Software
• Index membership: Dow Jones Industrial Average, S&P 500
• Next earnings date: 2026-07-17

This article is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell any financial instrument. Historical performance is not a reliable indicator of future results.