Semiconductor analyst Daniel Berenbaum gives Intel Corp (INTC) a “buy” rating on Wednesday. Berenbaum suggests that the thought that the “PC is dead” is overly pessimistic. The rise of PCs adding tablet functionality will only help Intel in the future. He believes that next week’s third quarter earnings report will be disappointing. However, PC and [...]
Semiconductor analyst Daniel Berenbaum gives Intel Corp (INTC) a “buy” rating on Wednesday.
Berenbaum suggests that the thought that the “PC is dead” is overly pessimistic. The rise of PCs adding tablet functionality will only help Intel in the future.
He believes that next week’s third quarter earnings report will be disappointing. However, PC and its growth in the tablet market makes Intel a potential earner in the future.
His “Buy” rating has a reduced price target of $27, down from $30. This is a 19% increase from Tuesday’s closing stock price of $21.90.
Intel’s shares were declining during afternoon trading on Wednesday, down $.12 (.55%).
The Bottom Line
Shares of Intel (INTC) have a 4.11% dividend yield, based on last night’s closing stock price of $21.90. The stock has technical support in the $20 price area. If the shares can firm up, we see overhead resistance around the $25 price levels.
Intel Corp (INTC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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