UBS reported that they have downgraded technology company, Intel Corporation(INTC) to “Neutral” on Tuesday.
The firm reported that they have downgraded Intel from a “Buy” to “Neutral,” and have given the company a price target of $21.50. This price target suggests a 7% increase over the stock’s current price of $19.95.
The company was downgraded due to uncertainly with the CEO transition.
Intel shares were down 30 cents, or -1.48% during premarket trading Tuesday. The stock is down 16.49% YTD.
The Bottom Line
Shares of Intel Corporation (INTC) have a 4.44% dividend yield, based on last night’s closing stock price of $20.25. The stock has technical support in the $18-$20 price area. If the shares can firm up, we see overhead resistance around the $22-$24 price levels.
Intel Corporation(INTC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.