Intel's (INTC) Cloud Presence Stronger than Believed Says Morgan Stanley (MS)

Morgan Stanley (NYSE:MS) said they're maintaining their "Overweight" rating on Intel (NASDAQ:INTC), citing especially the strong cloud computing presence of the company, which they see as undervalued by investors.

Analysts at Morgan Stanley said, "We think that Intel’s Data Center/Cloud opportunity (-22% of revenues) remains under-appreciated by investors, as concerns about potential share loss in PC and Server, to ARM-based microprocessors, continues to depress INTC’s multiple."

At this time about 60 percent of analysts covering Intel have a "Buy" rating on the giant tech company, with an average price target of $25.10 on it.

Intel was trading at $21.56, up $0.17, or 0.79 percent, as of 11:50 AM EST.