Cantor Fitzgerald initiated coverage of Intel (INTC) with a Neutral rating and $50 price target. The firm, which recommends investors remain Overweight semiconductor stocks as a group, views Intel among the potential relative underperformers in 2024 given the potential for PC seasonality below consensus, the negative impact from Mobileye’s (MBLY) miss and “messiness” around IFS disclosures, the analyst tells investors.
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