Intel price target lowered to $29 from $32 at Mizuho

Mizuho analyst Vijay Rakesh lowered the firm’s price target on Intel to $29 from $32 and keeps a Neutral rating on the shares following the "significant guide down" last night. Intel faces challenges into the first half of 2023 with a soft PC and server environment while node transitions and underloading continue to be gross margin drags, the analyst tells investors in a research note.