Intel price target raised to $47.50 from $34 at Citi

Citi raised the firm’s price target on Intel to $47.50 from $34 and keeps a Neutral rating on the shares after attending CES. The analyst believes Intel continues to execute on its manufacturing roadmap and says more importantly, TSMC is not. As a result, there is a decent chance Intel can close the gap with AMD and TSMC and regain market share given its “superior stability and peripherals,” the analyst tells investors in a research note. As such, the firm believes the stock should trade at a higher multiple.