Intel (NASDAQ: INTC) has been downgraded by HSBC to ‘Reduce’ from ‘Hold’, with a new price target of $24, up from$21.25.The adjustment follows a significant surge in Intel’s stock, which has risen 55% since August, driven by substantial investments from major entities. As of press time, INTC was trading at $37.05, having rallied almost 85% year-to-date.INTC YTD stock price chart. Source: FinboldThe downgrade reflects concerns over the sustainability of Intel’s recent rally. Notably, the surge is attributed ...