The analyst firm lowered its 2015 EPS estimates for the chipmaker to $2.25 a share from its previous estimate of $2.37 a share. Jefferies analysts also lowered their 2016 EPS estimates for Intel to $2.82 a share from $3 a share.
Jefferies analysts said the lower price target and EPS estimates come after Micron Technology's (MU) comments about weaker near-term PC trends.
"On its MayQ earnings call, MU noted weaker than expected PC trends," Jefferies analysts wrote. "It also noted below normal channel inventories and reiterated its expectations for the PC market to seasonally improve in 2H15, helped also by demand driven by the release of Windows 10 and Intel's new SkyLake MPU platform."
Separately, TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTEL CORP (INTC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and increase in stock price during the past year. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."