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IBM’s stock rallies as RBC’s target implies 25% upside

Shares of International Business Machines Corp. rallied Wednesday after RBC Capital analyst Matthew Swanson set a Wall Street-high price target that suggests a nine-year high is on the horizon.

“We’re optimistic on the competitive positioning and unique role that IBM plays in the tech eco-system with its value proposition best represented by enabling efficient digital transformation through consulting and software,” Swanson wrote in a note to clients.

He…

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