Goldman Sachs and Citigroup Reduce Estimates for Intel (INTC)
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.