BofA upgraded Intel (INTC) to Neutral from Underperform with a price target of $25, up from $19. The firm We “really” likes the new CEO appointment citing Lip-Bu Tan’s solid track record of success at Cadence Design Systems, his company knowledge based on prior stint on Intel’s board, and his breadth of relationships and investments across the U.S. and Asian semi industry landscape as Chairman of Walden. However, the share upside potential is balanced against risks from a lack of artificial intelligence roadmap and increasing competition in a tough macro environment, the analyst tells investors in a research note.
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