Intel price target lowered to $44 from $50 at BofA

BofA analyst Vivek Arya lowered the firm’s price target on Intel to $44 from $50 and keeps a Neutral rating on the shares. The firm, which sees Intel Foundry as still fully dependent on the internal design team, and thus shifts to a combined valuation methodology for the whole IDM business rather than a separate sum-of-parts for each, cites that shift post Intel’s re-segmentation as the reason for its price target cut.