Intel price target lowered to $36 from $48 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Intel to $36 from $48 and keeps an Equal Weight rating on the shares. The Q2 shortfall to “us is not a big deal,” but the firm says it needs more clarity on the server products as the Intel 3 server roadmap remains its focus. While noting that Sierra Forest and Granite Rapids are on schedule, the firm questions if they will it be enough to stabilize share and still sees potential share pressure, the analyst tells investors.