Why Intel Stock Popped Today
(NASDAQ: INTC) stock enjoyed a modest lift on Tuesday, rising 2% through 11:05 a.m. ET amid conflicting moves on Wall Street.
As The Fly reports this morning, investment bank Citigroup trimmed its Intel price target from $22 to $21 per share, at the same time as HSBC upgraded the stock from reduce to hold.
Intel stock sits just below $22 a share, so Citi's new price target implies the stock is going to fall in value over the next 12 months. Citi forecasts "sluggish demand" for PC, automotive, and industrial chips this year, offset by strength in the data center, artificial intelligence, and communications markets. All things considered, Citi is maintaining a neutral view on Intel stock, indicating it thinks investors should hold on.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 47 Buy predictions and 24 Sell predictions.
However, we have a potential of -5.36% for Intel Corp. as the target price of 74 € is below the current price of 78.19 €.
