Susquehanna upgraded Intel to Neutral from Negative with a price target of $26, up from $23. In April 2021, the firm called for the top of the semiconductor cycle, but now it is calling for the bottom in this cycle, at least for consumer, PC and handset-related names. The firm, when it had downgraded Intel last year, listed eight primary concerns, but now it says three of those concerns have lessened or abated – AMD (AMD) is no longer gaining PC share, the company has shown better roadmap execution and the Work from Home PC hangover and inventory correction has "run its course," the analyst said.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on INTC:
- QCOM, SWKS, INTC Receive Analyst Upgrade, Shares Jump
- Intel Could Seek $5 Billion More in German Subsidies for Chip Plant
- Intel seeks extra EUR4B-EUR5B in subsidies for German chip plant, Bloomberg says
- Intel delaying Falcon Shores to 2025, McVeigh says in blog post
- Street revenue estimates need to come down for Micron, says Credit Suisse