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Intel price target lowered to $20 from $25 at Roth MKM

Roth MKM analyst Suji Desilva lowered the firm’s price target on Intel (INTC) to $20 from $25 and keeps a Neutral rating on the shares. The company guided Q1 well below seasonal rate, reflecting ongoing inventory digestion and increased competitive position, the analyst tells investors in a research note. The lower revenue and increased pricing competition impact gross margins on the guidance, Roth added, noting the firm will continue to look for additional progress in recovering product market traction and share prior to getting more aggressive.

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