IBM To Unveil Independent Infrastructure Services Business Kyndryl
IBM is in the process of setting up a new independent company named Kyndryl that will be formed post separation of its Managed Infrastructure Services business which is expected before Read More... The post IBM To Unveil Independent Infrastructure Services Business Kyndryl appeared first on TipRanks Financial Blog.
IBM is in the process of setting up a new independent company named Kyndryl that will be formed post separation of its Managed Infrastructure Services business which is expected before year-end.
The newly formed independent company will have its headquarters in New York and according to International Business Machines Corporation’s (), will specialize in designing, running, and managing efficient technology infrastructure. The independent company will also pursue alliances with a diverse ecosystem of leading technology partners.
Kyndryl seeks to help customers worldwide build robust, secure, and adaptive capabilities in the fast-paced digital world. It is also being positioned to run all systems crucial to the digital revolution backed by some of the finest talent.
Kyndryl’s Chief Executive Officer, Martin Schroeter, stated, “Our vision is to be the leading company that designs, runs and modernizes the critical technology infrastructure of the world's most important businesses and institutions, ultimately powering human progress.”
IBM shares are up 6% year to date, after losing more than 5% in market value in 2020. (See IBM stock analysis on TipRanks)
Morgan Stanley’s analyst Kathryn Huberty reiterated a Hold rating on the stock ahead of the release of IBM's financial results on April 19. The analyst has a price target of $150, implying 11% upside potential to current levels.
According to Huberty, the company is poised to report earnings per share of $1.52.
Consensus on Wall Street is that IBM is a Hold based on 2 Buys, 3 Holds, and 1 Sell. The average analyst price target at $134.80 implies that the shares are fully priced at current levels.
IBM scores a 7 out of 10 on the TipRanks' Smart Score ranking system which implies that shares are expected to perform in line with market expectations.
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