Intel price target lowered to $45 from $50 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Intel to $45 from $50 and keeps a Neutral rating on the shares. While Cantor expects Intel to reiterate continued excitement about a 2H24 rebound, the firm thinks consensus estimates are too high for 2Q24, and Cantor is looking for a modest beat followed by a modest miss, the analyst tells investors in a research note.