IBM is up 30% in a month as Barclays says its software business is the antidote to the SaaSpocalypse

IBM stock surged 10% on Monday after Barclays initiated coverage with an overweight rating and a $350 price target, roughly 11% above the opening price. The jump extends a run that has seen IBM gain nearly 30% in May alone, its best monthly performance in almost 24 years. The stock is now up 10%…