Chip stock Intel (INTC) landed another piece of good news today as Deutsche Bank analysts shifted their price target. They left the rating alone, granted, but the price target got a bump. The reasons behind the price target bump were even better, and gave Intel stock a boost accordingly. Investors liked what they saw, and sent shares up nearly 1.5% in Tuesday afternoon’s trading.
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Deutsche Bank kept the rating on Intel as a Hold, joining 26 other analysts who felt the same way. But it did raise the price target up, and in a pretty big way. Deutsche Bank hiked the price target from its original $23 per share to a new target of $30 per share.
The biggest reason? We have been following it right here—Intel’s sheer determination in advancing its bottom line. Deutsche Bank analysts noted that Intel is in the midst of an “aggressive pursuit” to build its balance sheet out, and many of its actions in recent days reflect that. Whether it is raising equity, selling off divisions, laying off employees, or pursuing new business, Intel is in the middle of an extremely active turnaround phase where it is doing everything it can think of to rally its bottom line. Throw in the growing investment in both its standard product roadmap and its foundry operations, and that underscores how hard Intel is fighting here.
Speaking of Roadmap
Meanwhile, new reports came out about Intel’s product roadmap, particularly the part of it that will be winding up on Amazon (AMZN) for its upcoming Prime Big Deal Days event. Reports note that the sale will feature the Intel Core Ultra 9 285K processor at a price so low it had never been seen before.
Some might balk here; they remember the early days of of the Ultra 9 285K. But Intel has put in the work on this one, with a set of post-release patches that give the processor some new life. Throw in discounts that make it a particularly attractive, and the Ultra 9 285K might be an exciting addition to the Prime Big Deal Days lineup.
Is Intel a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on two Buys, 27 Holds and four Sells assigned in the past three months, as indicated by the graphic below. After a 56.9% rally in its share price over the past year, the average INTC price target of $26.73 per share implies 28.07% downside risk.
