Intel price target lowered to $40 from $42 at Wells Fargo

Wells Fargo analyst Aaron Rakers lowered the firm’s price target on Intel to $40 from $42 and keeps an Equal Weight rating on the shares following the quarterly results. Wells Fargo sees the positive post-close share move as justified and expects focus to be on the path back to $3/share+ in normalized EPS, the analyst tells investors in a research note.