Intel price target lowered to $17 from $20 at Rosenblatt

Rosenblatt analyst Hans Mosesmann lowered the firm’s price target on Intel to $17 from $20 and keeps a Sell rating on the shares following last night’s results. "No words can portray or explain the historic collapse of Intel, with management attempting to blame a worst-ever PC inventory digestion dynamic and macro/China/enterprise to an over 20% q/q decline in sales," the analyst tells investors in a research note. The firm continues to view Intel’s server and data center business as "damaged."