The Globe and Mail reports in its Thursday edition that RBC analyst Matthew Swanson rates International Business Machines "outperform" in new coverage. The Globe's David Leeder writes that Mr. Swanson set a Street-high share target of $188 (all figures U.S.). Analysts on average target the shares at $146. The Globe says Mr. Swanson is "optimistic on the competitive positioning and unique role" that IBM plays in the "technology eco-system." Mr. Swanson says IBM's software business is "misunderstood, and undervalued, particularly its role in hybrid environments, AI and spend optimization." He says in a note: "We are impressed with the depth of the company's software platform, particularly its capabilities around enablement. In a post-pandemic world, we've seen networks broaden and become increasingly complex. IBM combines consulting and software solutions, particularly those provided by Red Hat, to bring a unique set of assets to pull large enterprises through their digital transformation journeys. We feel this same dynamic could lead to another leg of growth for automation, certainly in terms of GenAI, but also a renewed interest in the broader Watson suite in a macro that is valuing ROI and time to value."