Why Intel Stock Is Sinking Today
(NASDAQ: INTC) stock is losing ground in Tuesday's trading. The semiconductor company's share price was down 5.8% as of 2 p.m. ET.
Intel stock is losing ground today following skeptical coverage from Bank of America (BofA) analysts. The chip specialist's share price had climbed yesterday following news that CEO Pat Gelsinger would be resigning, but BofA's analysts raised concerns about the company's path going forward.
Following the announcement that Pat Gelsinger would be resigning as Intel's CEO, Bank of America published a new round of coverage on the chip giant's stock. The firm's analysts maintained an underperform rating on Intel and a one-year price target of $21 per share on the stock. As of this writing, BofA's target on Intel implies a downside of roughly 6.5%.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 47 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 80.25 € for Intel Corp., so the potential is actually -7.79%.
