UBS Cuts HP, INTC On PC Sales Prospects

Analysts at UBS have downgraded their ratings on Hewlett-Packard Co. HPQ and Intel Corp INTC citing softer PC sales projections. UBS expressed concern over the prospects for PC sales through the rest of 2010. The rating for HPQ, the leading PC company, was reduced from “buy” to “neutral” along with a downward revision in the price target to $44 from $54. UBS cut its rating for INTC from “buy” to “neutral” also citing a lack of catalysts for the stock. More Analyst Ratings here