Morgan Stanley upgrades IBM, says stock is a 'place to hide' during growing economic risks

IBM's logo seen displayed on a smartphone.
Rafael Henrique | SOPA Images | LightRocket | Getty Images

Recessionary fears and rising inflation are putting the pressure on tech valuations, but IBM is a good "place to hide" amid the uncertain economic picture, Morgan Stanley says.

More In Street Calls

CNBC ProHere are Tuesday's biggest analyst calls of the day: Apple, Roblox, DoorDash, Netflix, Disney & more
CNBC ProSnowflake is cheap at these levels and can go up 84%, Rosenblatt Securities says
CNBC ProAtlantic Equities downgrades Roblox, says user engagement is softening on gaming platform