IBM jumps 13% after recycled Trump clip; Barclays $350 target

IBM shares climbed about 13% to finish near $298 on Friday and traded above $300 in early Monday trading after a recycled December video of President Trump resurfaced over the weekend. Barclays initiated coverage June 1 with an Overweight rating and a $350 price target. Options activity showed a decline in bearish positioning.

The stock began a steady rise after a May 13 low near $212. Friday’s gain was the largest single-day increase for IBM in months. Wedbush had reiterated a Buy rating on May 29 with a $320 target.

Trading volume has risen since mid-May. Friday’s volume printed about 28.48 million shares as the price moved higher. The put-call volume ratio fell from roughly 0.60 on May 20 to 0.23, while the open interest ratio eased from about 0.84 to 0.66, indicating fewer bearish bets and reduced short positions in options markets.

Institutional flow measures show weaker buying pressure. The Chaikin Money Flow, which tracks institutional buying and selling, has carved lower peaks since late April and sat near 0.15 on the most recent reading. A level near 0.25 is commonly used to indicate stronger institutional inflows.

Technical levels to watch include a first resistance near $296, measured from the January swing high around $319 and the May 13 low of $212. A daily close above $296 would leave $319 as the next reference point; $319 was rejected on November 12 and January 29. Support levels are near $278, $266 and $253.

On fundamentals, IBM carried about $66 billion in debt as of March 31, 2026. The company reported slowing growth at Red Hat, the open-source software business it acquired in 2019 for $34 billion. IBM’s share price is roughly flat year-to-date despite an about 28% monthly advance.

Market participants will be watching daily price action around key resistance and support levels, changes in institutional flow measures, and further options activity to assess market positioning.