DA Davidson Reiterates Neutral on Intel, $45 Price Target

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

“Intel and Apollo Global Management announced a definitive agreement in which Intel will repurchase the 49% equity interest in the JV related to Fab 34 in Ireland for $14.2B.

The transaction effectively unwinds the 2024 agreement where Apollo acquired the 49% stake for $11.2B.

We believe the announcement bodes well for the INTC turnaround story while significantly strengthening the balance sheet.”

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