UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Removes PT on Intel Corporation on Slightly Negative Risk-Reward

In a report published Wednesday, Morgan Stanley analyst Joseph Moore reiterated an Equal-Weight rating on Intel Corporation INTC, but removed the $30.00 price target. In the report, Morgan Stanley noted, “We think risk-reward is slightly negative, and are EW. Stronger PCs have helped numbers, but GMs are peaking this qtr, the non PC/server initiatives still seem unlikely to contribute earnings through 2016, and price to FCF is a premium to semis and large cap tech (20x 2014) while 5% 2014 growth is below the group.” Intel Corporation closed on Tuesday at $34.91.