International Business Machines (NYSE:IBM) Shares Down 1.7% Following Analyst Downgrade

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International Business Machines (IBM) shares dropped 1.7% after BMO Capital Markets downgraded the stock to “market perform” and cut its price target from $350 to $290. Despite a “Moderate Buy” consensus among analysts, several firms have lowered price targets or ratings due to various factors. However, IBM’s fundamentals remain strong, with recent earnings beating estimates, a 2.7% dividend yield, and insider buying activity.

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