Fly News Breaks for June 22, 2018
INTC
Jun 22, 2018 | 07:59 EDT
Needham analyst N. Quinn Bolton lowered his price target on Intel to $60 from $62 after yesterday's resignation of CEO Brian Krzanich, saying he was the "driving force" behind the company's transition to a data centric business. The analyst adds that the Data Center Group is facing much more challenging comps starting in Q4 as well as persistent 10nm manufacturing issues. Longer term, Bolton keeps his Buy rating on Intel, with potential for stronger macroeconomic conditions and better than expected PC sales supporting the stock price.
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