Kyndryl adds to gains as BofA says it is 'poised for inflection'

seekingalpha11-22 20:53

sefa ozel/E+ via Getty Images Kyndryl (NYSE:KD) was in focus on Friday as Bank of America initiated coverage on the IT infrastructure service company with a Buy rating and $40 price target, noting it...

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inflection'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 20:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4320801-kyndryl-adds-to-gains-as-bofa-says-it-is-poised-for-inflection><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>sefa ozel/E+ via Getty Images  Kyndryl (NYSE:KD) was in focus on Friday as Bank of America initiated coverage on the IT infrastructure service company with a Buy rating and $40 price target, noting it...</p>\n\n<a href=\"https://seekingalpha.com/news/4320801-kyndryl-adds-to-gains-as-bofa-says-it-is-poised-for-inflection\">Source 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(USD) ACC","KD":"Kyndryl","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","IBM":"IBM"},"translate_title":"美国银行表示“已做好拐点准备”，Kyndryl进一步上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KD":1,"IBM":0.76},"content_text":"sefa ozel/E+ via Getty Images  Kyndryl (NYSE:KD) was in focus on Friday as Bank of America initiated coverage on the IT infrastructure service company with a Buy rating and $40 price target, noting it appears \"poised for inflection.\" Shares rose 1% in premarket trading, adding to Thursday's strong gain. \"Since the spin from IBM in 2021, the company has diligently cultivated an increasingly profitable book of business and is targeting a return to organic constant-currency growth by F4Q25,\" analyst Tyler DuPont wrote in a note to clients. \"While we acknowledge recent meaningful share price outperformance following the positive investor day on 11/21, we believe the improving mix and growth trends are not fully reflected in KD’s current multiple vs. peers and see room for further upside.\" Kyndryl is growing in size and becoming \"increasingly profitable,\" as evidenced by recent quarterly results, DuPont added, which should drive \"sustainable\" top-line and bottom line growth, with pre-tax margins doubling by 2027. 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