IBM (NYSE:IBM) rally trims gap to consensus as BofA looks for Confluent boost
International Business Machines Corporation climbed $10.00 to close at $299.52 Monday, up 3.45%. That topped the S&P 500’s 0.72% gain and the Dow’s 0.29% rise. The move put about $9.4 billion on IBM’s market cap, using Google Finance’s figure of 939.88 million shares. For investors, the real takeaway isn't just the higher price target. IBM’s closing price is now just 1.14% under the average 12-month target of $302.94, and bullish analysts are widening the gap from the consensus. Google Finance data shows 12 buys and five holds, with no sells, from 17 analysts in the last three months.