Wells Fargo Reiterates “Outperform” Rating On Intel Corp. (INTC)
Wells Fargo reported on Monday that it is maintaining its “Outperform” rating on the Santa Clara-based microchip maker, Intel Corp. (INTC).
David Wong, an analyst with the firm, commented, “We think that the investment community underestimates the value of Intel’s ability to continuously refresh its desktop and notebook product lines through all price points. We think that the steady stream of new processor products from Intel could help re-ignite growth in the client computer market”. Wells Fargo has an “Outperform” rating on the stock along with a price target of $28-$33 a share.
Intel shares were up on Monday alongside the broad market, gaining 1.71% on the day. The stock has gained just over 21% YTD.
The Bottom Line
Shares of Intel Corp. (INTC) have a 3.59% yield, based on Monday’s closing price of $25.01.
Intel Corp. (INTC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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