Benchmark Raises Intel Price Target to $57
Benchmark analyst Cody Acree raised the price target on Intel (NASDAQ: INTC) to $57.00 (from $50.00) while maintaining a Buy rating.
“Well Deserved Profit Taking: After gaining 150% over the TTM and nearly 50% since Jan 2, we believe Intel’s shares were poised for a pull-back in all but the most optimistic of scenarios, and while the company delivered a respectable upside to December expectations, its disappointing Q1 outlook provided more than enough reason for traders to sell shares aggressively, with Intel’s stock declining as much as 12% after hours.
Intel delivered Q4 revenue of $13.674B, an upside of $236M versus expectations, and an EPS of $0.15, or $0.07 ahead of the consensus.”
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