Intel Stock Lower After Analyst Resumes Coverage

The analyst in question noted stiff competition from Advanced Micro Devices

Deputy Editor
Nov 11, 2022 at 10:57 AM
facebook twitter linkedin


The shares of Intel Corp (NASDAQ:INTC) are down 0.2% at $29.72 at last glance, after J.P. Morgan Securities resumed coverage of the stock with an "underweight" rating and $32 price target. The firm had previously carried an "overweight" rating and $64 price target, but sees stiff competition from the semiconductor's sector peers, particularly Advanced Micro Devices (AMD). 

On the charts, INTC has been climbing since its Oct. 13, over eight-year low of $24.59. The equity broke above its 60-day moving average in the last couple sessions -- a trendline that had been pressuring the shares lower since early April. However, the security is still down roughly 42% year-to-date. 

It's also worth noting that Intel stock may have been overdue for a short-term dip, per its 14-day relative strength index (RSI) of 70.4, which stands in "overbought" territory. 

Of the 43 analysts in coverage, eight call INTC a "buy" or better rating, 24 say "hold," and 11 carry a "sell" or worse, while the 12-month consensus price target of $31.85 is an 7.5% premium to current levels. 

 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners