Goldman Sachs analyst Toshiya Hari downgraded Intel (INTC) to Sell from Neutral with a price target of $54, down from $65.
The stock closed Thursday up 32c to $59.13.
Recent industry checks indicate a slowdown in PC builds in the second half of 2020 and continued share loss for Intel in the client and server central processing unit markets, Hari tells investors in a research note.
As a result, the analyst cut 2021 and 2022 earnings estimates to below Street levels and sees a 9% downside in Intel shares.
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