Intel price target lowered to $37 from $44 at HSBC

HSBC analyst Frank Lee lowered the firm’s price target on Intel to $37 from $44 and keeps a Hold rating on the shares. The analyst expects in-line Q1 results from Intel with Q2 potentially resuming growth on non-artificial intelligence momentum. The company’s new financial reporting structure highlights Intel Foundry’s ongoing weakness, the analyst tells investors in a research note. The firm says Intel remains a laggard in AI accelerators despite the Gaudi 3 announcement.