Barclays Downgrades Intel (INTC) to Underweight

Barclays analyst Blayne Curtis downgraded Intel (NASDAQ: INTC) from Equalweight to Underweight with a price target of $38.00 (from $53.00).

The analyst downgrades the name citing end-market tailwinds responsible for the recent rally are likely to reverse, increased competition due to process slippage/impending turf war and FCF returns declining due to pricing/margin pressures along with increasing capex requirements. The analyst sees a no-win scenario for INTC as the management will likely experience market share loss, need to cur prices or do both.

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $47.29 yesterday.

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