Analysts raise Intel targets, still see headwinds

Jan. 24, 2020 8:21 AM ETIntel Corporation (INTC)INTCBy: Brandy Betz, SA News Editor41 Comments
  • Loop Capital Markets downgrades Intel (NASDAQ:INTC) from Hold to Sell but raises the target from $50 to $59 after yesterday's earnings report.
  • The firm sees potential growth headwinds in 2020 due to the challenging PC market and competitive pressure from AMD.
  • Cowen raises Intel's target from $55 to $64, noting that strong PC and server demand combined with the capacity-constrained mix to drive revenue and margin upside.
  • The firm notes that the FY20 guidance beat was driven entirely by Q1.
  • Cowen doesn't change its fundamental outlook because Intel's competitive and margin challenges are still in place.
  • Intel shares are up 5.3% pre-market to $66.69. The company has a Neutral average Sell Side rating.

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