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Fly News Breaks for July 15, 2015
INTC
Jul 15, 2015 | 07:31 EDT
Jefferies lowered its price target for Intel shares to $35 from $45 and removed the stock from its Franchise Pick list. Management turnover along with press reports of product delays could limit the company's ability to monetize its manufacturing lead, Jefferies admits in a research note. It lowered its estimates to reflect negative PC and server data points. The firm, however, keeps a Buy rating on the stock, saying the 18% year-to-date pullback prices in a lot of bad news.
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