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 move followed chief executive Arvind Krishna's surprise release of preliminary second-quarter results for 2026 that missed expectations, as he told investors the company had stumbled when several large corporate deals failed to close at the final stage.
