Raymond James Reiterates Market Perform on Intel

Raymond James analyst Simon Leopold reiterated a Market Perform rating on Intel (NASDAQ: INTC).

“We maintain our Market Perform rating on Intel and adjusted our model to reflect the recent repurchase of the remaining 49% stake in the Fab 34, as well as to alter our assumptions regarding the product mix following our recent checks from our Asia trip that implies weaker PCs, offset by better Data Center and AI.

We also discuss the potential from the Elon Musk companies and Terafab.

The shares are up nearly 80% YTD, and we think the appreciation reflects a combination of fundamental improvement and speculation regarding new opportunities.”

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