Mizuho Securities initiates coverage on Intel (NASDAQ: INTC) with a Neutral rating and a price target of $32.00.

Analyst Vijay Rakesh commented, "While we view INTC as the undisputed king of technology and manufacturing, its core PC client market (60%+ of revenue) remains soft. While 2H15 should see some respite with Windows10, we believe OEMs and ODMs remain cautious on the long-term sustainability of demand. Data Center continues to be a bright spot with growth and margins. While INTC has tried to reposition away from PCs with recent M&A, we believe the stock remains a tough proposition for investors at current levels."

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 $29.73 yesterday.

Analyst Comments New Coverage

Wedbush Raises Price Target on Intel (INTC) to $35 Following 2Q15 Beat July 16, 2015 9:03 AM Northland Capital Markets Raises Price Target on Intel (INTC) to $32 Following 2Q15 Results July 16, 2015 8:46 AM Jefferies Raises Price target on Intel (INTC) to $36 Following 2Q EPS Beat July 16, 2015 8:05 AM Piper Jaffray Cuts Price Target on Intel (INTC) Following 2Q15 Results July 16, 2015 7:41 AM FBR Capital Maintains Bullish Views on Intel (INTC) Following 2Q Earnings Results July 16, 2015 7:18 AM Intel (INTC) Numbers Cut at Jefferies; Removed from Franchise Pick ListJuly 15, 2015 8:39 AM