SocGen upgrades IBM to “hold” on strong 2013 forecast

A man passes by an illuminated IBM logo at the CeBIT computer fair in Hanover(Reuters) – Societe Generale upgraded IBM Corp's stock to “hold” From “sell”, saying the world's largest technology services company would be able to increase revenue as technology spending improves in the second half of 2012, especially in Europe. IBM forecast better-than-expected full-year results on Tuesday after reporting a solid fourth quarter. The company's shares were set to open 4 percent higher on Wednesday. It closed at $196.06 on the New York Stock Exchange on Tuesday. SocGen raised it price target on the stock to $201 from $188. …

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SocGen upgrades IBM to “hold” on strong 2013 forecast

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