Intel (INTC) Cut to Reduce by HSBC; Analyst Cites Overdone Rally and Execution Risks

Intel Corporation (NASDAQ:INTC) is one of the Trending AI Stocks on Wall Street. On October 8, HSBC analyst Frank Lee downgraded the stock from "Hold" to "Reduce" and raised its price target to $24.00 (from $21.25). The firm believes that Intel’s rally since August is largely due to short-term investment deals, rather than an improvement in its long-term performance. The company’s turnaround is dependent on fixing its foundry operations. However, it continues to face execution failures. “A TSMC technolo ...