DA Davidson Initiates Intel at Neutral, $45 Price Target

DA Davidson analyst Gil Luria initiates coverage on Intel (NASDAQ: INTC) with a Neutral rating and a price target of $45.00.

“It wouldn’t be an overstatement to claim that Intel is attempting one of the hardest resets in semiconductor history by simultaneously rebuilding leading-edge process capability and convincing outsiders to trust it as a third-party foundry.

And while we believe there are real developments across the business for investors to get excited about, Intel remains the ultimate “show me” story, with the stock continuing to reflect assumptions we view are all too optimistic.

Thus, we initiate coverage of INTC with a NEUTRAL rating and $45 price target.”

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