Diamonds and Dogs

9/20/23

Big Blue gets an upgrade. IBM (IBM) is up 2% on an upgrade. RBC Capital raised their coverage to an Outperform with a $188 price target saying the software business is misunderstood and undervalued particularly with its role in AI.

Chewy (CHWY) in the doghouse today. The pet retailer fell 5% to a new 52-week low on a downgrade. Oppenheimer indicated they see a challenging environment going forward as Walmart opens their first pet service center.

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