As previously reported, BofA initiated coverage of Kyndryl Holdings (KD) with a Buy rating and “Street high” $40 price target The “world’s largest provider of IT infrastructure services” has “diligently cultivated an increasingly profitable book of business” since the spin from IBM (IBM) in 2021 and is targeting a return to organic constant-currency growth by fiscal Q4 of FY25, the analyst tells investors. While acknowledging the recent meaningful share price outperformance following the positive investor day on November 21, the firm believes the improving mix and growth trends are not fully reflected in the current multiple and sees room for further upside, the analyst added.
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Read More on KD:
- Kyndryl Holdings price target raised to $37 from $33 at Oppenheimer
- Kyndryl Holdings price target raised to $40 from $33 at Susquehanna
- Kyndryl Holdings initiated with a Buy at BofA
- Kyndryl Holdings reaffirms FY25 guidance at 2024 Investor Day
- Kyndryl Holdings provides financial objectives for FY28
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
