Estimates have been lowered for technology company, Intel Corporation(INTC) at Goldman Sachs and Citigroup on Thursday.
Goldman Sachs reported that they have given the company a price target of $16. This price target suggests a 19% decline from the stock’s current price of $19.84. The firm predicts a decline as margins are expected
to decrease in the next couple quarters.
Additionally, estimates for INTC were also reduced at Citigroup with a price target of $21. This price target suggests a slight increase from the stock’s current price. The firm currently has a “Neutral” rating on INTC. Analysts at Citi lowered estimates due to continued guidance risk.
Intel shares were down 26 cents or -1.29% during premarket trading Thursday. The stock is down -17.15% YTD.
The Bottom Line
Shares of Intel Corporation (INTC) have a 4.48% dividend yield, based on last night’s closing stock price of $20.09. the stock has technical support in the $18 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels.
Intel Corporation(INTC)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.