Lazard Upgrades Intel to “Buy”; Ultrabook Sales Should Drive Growth (INTC)
Computer processor maker Intel Corporation (INTC) received some positive outlook from analysts at Lazard on Monday.
The analysts upgraded INTC from “Neutral” to “Buy” and see shares reaching $26. That price target is a +22.8% upside to Friday’s closing price of $21.16.
The firm noted that Intel’s margins should bottom out in the first quarter, but for the rest of the year ultrabook sales should drive growth.
Intel shares were up 15 cents, or +0.71%, during premarket trading on Monday.
The Bottom Line
Shares of Intel Corp (INTC) have a 4.25% dividend yield, based on Friday’s closing stock price of $21.16. The stock has technical support in the $19 price area. If the shares can firm up, we see overhead resistance around the $21-$22 price levels.
Intel Corporation (INTC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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