International Business Machines Corporation (IBM) is one of the world’s leading computer services companies. Net sales break down by activity as follows:
– cognitive solutions and transaction processing software development (42.5%);
– IT services (32.3%): consulting (management of logistic chains, financial performance, CRM, human resources, etc.), application management, systems integration, cloud computing, hosting, technical support services, etc.;
– sale of IT infrastructure (23.6%): hybrid IT infrastructure solutions, microcomputers, servers, peripheral devices, networks, data storage equipment, etc.;
– financing of computer equipment (1.2%);
– other (0.4%).
Net sales are distributed geographically as follows: the United States (40.9%), Americas (10.3%), Europe/Middle East/Africa (29.9%) and Asia/Pacific (18.9%).
BofA Securities Adjusts Price Target on International Business Machines to $270 From $260, Keeps Buy Rating – January 30, 2025 at 10:19 am EST
In a recent update, BofA Securities has adjusted its price target on International Business Machines (IBM) from $260 to $270 while maintaining its Buy rating on the stock. This update comes amidst positive developments and strong performance from IBM in the market.
The revised price target reflects BofA Securities’ confidence in IBM’s growth potential and its ability to deliver value to investors. The Buy rating reaffirms the firm’s belief that IBM is well-positioned for success in the ever-evolving technology landscape.
Investors and analysts alike will be closely watching IBM’s performance in the coming months to see if it can meet or exceed BofA Securities’ expectations. With a higher price target and a Buy rating in place, IBM may be on track for continued success in the market.
Stay tuned for more updates on IBM and its performance as it continues to navigate the challenges and opportunities in the tech industry.
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Bank of America CEO Brian Moynihan says cryptocurrencies could be adopted into the mainstream, with wealth advisor Christopher McMahon adding such signals may push prices to $130,000 in 2025.
Wall Street may finally be warming up to adopting cryptocurrencies in their daily business—as long as guardrails are also put in place.
Thus far the sentiment on the Street has been to support individuals’ rights to invest in currencies like Bitcoin and Dogecoin, but not adopt it as far as developing payment methods.
But all that could change, according to Bank of America CEO Brian Moynihan.
“I’d separate out … crypto versus stable assets and digital movement of money because we already move the vast, vast majority of our money digitally,” Moynihan told CNBC in an interview at Davos.
“The question is what’s the business practice that you have to have to move another type of currency. So if the rules come in and make it a real thing that you can actually do business with, you will find the banking system will come in hard on the transactional side of it.”
Such dealings would have to be non-anonymized and verified for the banking industry to get on board, Moynihan added.
If rules to that effect were introduced, the industry would have no choice but to adopt the new currency stream: “We have to because it’s just another way our customers are going to want to move money,” the Wall Street veteran added.
Another concern for the finance industry is the threat cryptocurrencies could potentially pose to the U.S. dollar, a tool crucial in shoring up the economy.
Moynihan agrees, saying a strong dollar is “good for our country,” but clarified that a wider adoption of crypto on the consumer payments side doesn’t directly correlate to what happens on the investment side.
“If you go down the street here, and you go in and buy lunch, if you can pay with Visa, Mastercard, a debit card, ApplePay, this would just be another form of payment in an instantaneous cash transfer,” Moynihan explained.
“When you get to the investment side and the Bitcoin stuff, that’s really a separate question.”
For those who have chosen to join the cryptocurrency trend, Christopher McMahon, CEO of Aquinas Wealth Advisors, sees some good news on the horizon.
Speaking to Quartz, the author of Faithful Finances said potential crypto adoption by the likes of Bank of America will push prices higher.
“I don’t think we’ve ever seen a more favorable environment for crypto,” McMahon said.
“We see it just from this momentum. The president endorsing it, the new head of the SEC coming as kind of a crypto guy … it could be $130,000” before the end of the year, McMahon added.
Admittedly, crypto is still the “Wild West” to some extent, said McMahon, but echoed Moynihan in saying that if regulation is introduced, crypto payments could become mainstream.
“For investors, I think it’s a tremendous opportunity,” he continued. “I think when folks say, ‘Ah, that’s no good, because I’m not familiar with it,’ they’re really doing their portfolio a disservice.”
In a recent statement, Bank of America CEO Brian Moynihan hinted at the possibility of big banks like BofA adopting cryptocurrency payments in the near future. This potential move has sparked speculation among experts, with one wealth advisor even predicting that Bitcoin could hit $130,000 by the end of this year.
The growing acceptance of cryptocurrencies by major financial institutions is seen as a significant step towards mainstream adoption. Moynihan’s comments suggest that banks may soon embrace digital currencies as a means of staying competitive in the rapidly evolving financial landscape.
While the exact timeline for this transition remains uncertain, the implications for the cryptocurrency market are significant. If major banks like BofA begin to facilitate crypto payments, it could lead to increased demand and broader acceptance of digital assets.
As a result, some experts believe that Bitcoin, the leading cryptocurrency, could see a substantial price surge in the coming months. With one wealth advisor predicting a price target of $130,000 for Bitcoin by the end of the year, investors are closely watching the developments in the banking sector for clues about the future of digital currencies.
Overall, the potential adoption of crypto payments by big banks represents a major turning point for the cryptocurrency market. As traditional financial institutions begin to embrace digital assets, the landscape of finance is poised for significant transformation.
Financial giants Citigroup and Bank of America (BofA) have decided to exit the Net-Zero Banking Alliance (NZBA), a UN-backed coalition of banks dedicated to advancing global net zero goals through their financing activities, marking an acceleration in departures from the group, following similar recent announcements from Goldman Sachs and Wells Fargo.
Launched in 2021 – with Citi and BofA as founding members – the Net-Zero Banking Alliance is a coalition of more than 140 banks spanning 44 countries. Members of the NZBA commit to transitioning operational and attributable greenhouse gas (GHG) emissions from their financing activities to align with net zero pathways by 2050, and to set 2030 financed emissions targets, initially focused on key emissions intensive sectors.
The NZBA forms part of the Glasgow Financial Alliance for Net Zero (GFANZ), a UN-backed umbrella group of net zero-focused financial sector coalitions, which also includes the Net Zero Asset Managers initiative (NZAM), Net Zero Asset Owner Alliance (NZAOA), Net Zero Financial Service Providers Alliance (NZFSPA), the Net Zero Investment Consultants Initiative (NZICI), the Paris Aligned Asset Owners (PAAO), the Venture Climate Alliance (VCA), and the Net-Zero Export Credit Agencies Alliance (NZECA).
After rapid expansion in the early years of the decade, members of the various GFANZ groups have come under significant pressure, particularly from Republican politicians in the U.S., who have been warning financial institutions including banks, insurers, asset owners and investors of potential legal violations from their participation in climate-focused alliances and of plans to exclude the companies from state business, as part of a broader anti-ESG political campaign.
Several of the groups have seen high-profile departures over the past several months, with one of the coalitions, the Net Zero Insurance Alliance (NZIA), even disbanding in 2024 following a string of exits.
Citi announced a commitment in early 2021, on the first day of Jane Fraser’s tenure as CEO, to a 2050 net zero greenhouse gas (GHG) financing target, and the bank has followed up with interim targets for financed emissions reductions for key emissions-intensive sectors, such as energy and power. In a statement published announcing its decision to leave the group, Citi reiterated its commitment to reach net zero, and pledged to support GFANZ in its new focus on “mobilizing capital to emerging markets in support of the low-carbon transition.” Citi stated:
“In light of this shift, and Citi’s progress towards its own net zero goals, we have decided to leave the Net Zero Banking Alliance and focus our attention on supporting GFANZ during this new phase.”
Bank of America’s net zero finance goal also dates to early 2021, and the bank has also set a series of financed emissions reduction targets for key sectors. In a publication in late September 2024, the bank reiterated its goal to achieve net zero in its financing, operations and supply chain by 2050, and set new financed emissions targets for the Iron & Steel and Maritime Shipping sectors.
Both Citi and Bank of America remain as members of the GFANZ Principals Group, which sets the strategic direction and priorities for GFANZ, and monitors progress.
In a surprising move, Citi and Bank of America have announced their decision to leave the Net Zero Banking Alliance, following in the footsteps of Goldman Sachs and Wells Fargo. This move comes as a blow to the coalition of banks committed to achieving net zero greenhouse gas emissions by 2050.
The departure of these major financial institutions raises questions about the future of the alliance and its ability to effectively address climate change. With four of the largest banks in the U.S. now out of the group, the remaining members will need to reassess their strategy and goals moving forward.
It remains to be seen what impact this exodus will have on the banking industry’s efforts to combat climate change. Will other banks follow suit and leave the alliance, or will new members step up to take their place? Only time will tell. Stay tuned for updates on this developing story.
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