Vetr Crowd Downgrades Intel To Sell Week Before Earnings Report

The Vetr crowd on Friday downgraded its rating for Intel Corporation INTC from 3 stars (Hold), issued 11 days ago, to 2.5 stars (Sell). Crowd sentiment at the time of the downgrade was generally positive, with 77 percent of Vetr user ratings bullish.

The downgrade comes one week before Intel is set to release its first quarter earnings. Share price in the company has trended down through most of 2017 from a high of about $38, finding a range between $35 and $36 for most of the past two months.

However, Intel's price has a history of spiking up on the approach in the case of previous reports, particularly given the company's fairly consistent record of beating on earnings, which it has maintained for seven earnings seasons.

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Currently, the Vetr crowd's average target price for Intel is down at $35.07, which is below the average analyst rating of $40.41. Intel Corporation is a popular stock on Vetr as more than 2 percent of users are holding INTC in their watch lists.