HSBC Cuts IBM Rating to Reduce Amid 22% Stock Plunge, Warning Investors of Further Downside Ahead
HSBC has cut its rating on IBM to 'Reduce' and set a £152.80 ($191) price target after the technology giant's shares slumped 22 per cent to £180.16 ($225.20) in Tuesday morning trading, wiping out billions in market value in one session. The …