Intel Stock Upgraded on Tech Potential

Susquehanna also raised its price target to $58

Deputy Editor
Jun 15, 2020 at 11:07 AM
facebook twitter linkedin


The shares of Intel Corporation (NASDAQ:INTC) are down 0.5% at $59.04 at last check, dipping alongside the broader market's pullback. Paring further losses today however, is an upgrade by Keybanc to "overweight" from "sector weight," with the firm citing INTC as the "best-positioned company" to take advantage of a technological advance beyond PC's, phones, and tablets -- consistently and quickly launching new products. Following the upgrade, Susquehanna hiked its price target to $58 from $56. 

Today's drop is seeing pressure at the 100-day moving average, the trendline of former support that caught INTC's 6.5% drop on June 11. Year-over-year the stock has added 28%.

Coming into today, 10 analysts give Intel Corp a "buy" or better rating, while 13 sport a tepid "hold," and four carry a "strong sell." Meanwhile, the 12-month consensus target price of $63.40 isan 8.1% premium to current levels. 

Despite calls outnumbering puts on an absolute basis, the stock's 10-day put/call volume ratio of 0.90 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits in the 83rd percentile of its annual range. This suggests puts are being picked up at a faster-than-usual clip. 

That said, speculating on INTC's next move with options could be a prudent play. The stock's Schaeffer's Volatility Index (SVI) of 39% stands higher than just 23% of all other readings in its annual range, implying that options players are pricing in relatively low volatility expectations at the moment. 

 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners