The shares of Kyndryl (KD) are advancing 6% after Scotiabank increased its price target on the tech name to $45 from $35. The cloud services company was spun off from IBM (IBM) in 2021.

Kyndryl on Monday missed Wall Street estimates for third-quarter revenue, as strong AI-linked sales were offset by a strong dollar and the IT services provider's shedding of lower-margin deals.