Intel price target lowered to $40 from $44 at BofA

BofA lowered the firm’s price target on Intel to $40 from $44 and keeps a Neutral rating on the shares. Intel’s enterprise incumbency, U.S.-based manufacturing assets and weak investor sentiment “provide turnaround potential,” but topline growth remains “lukewarm on limited AI exposure,” while underutilized manufacturing and elevated costs are keeping earnings in check, the analyst tells investors in a post-earnings note.