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ISI Group Reiterates Buy on Intel Corporation Following Intel Developer Forum

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In a report published Thursday, ISI Group analyst Sumit Dhanda reiterated a Buy rating and $26.00 price target on Intel Corporation (NASDAQ: INTC).

In the report, ISI Group noted, “We had the opportunity to attend the Intel Developer Forum in San Francisco over the past couple of days...While Intel's quiet period isn't set to begin until Friday, we now think a negative preannouncement is unlikely. Early in the quarter, the contrast between Intel's strong 2Q notebook shipments and lackluster notebook production had us (and we think many investors) worried that Intel's outlook was too aggressive, especially in a challenging ASP environment. Tempering our concern is August notebook ODM production that was at least a little better than feared, along with a somewhat more upbeat tone from management at IDF. With servers apparently on track as well, we think the odds now favor Intel landing within the targeted range of its sales guidance.”

Intel Corporation closed on Wednesday at $22.81.

Latest Ratings for INTC

DateFirmActionFromTo
Jan 2021Truist SecuritiesMaintainsHold
Jan 2021Roth CapitalMaintainsNeutral
Jan 2021Morgan StanleyMaintainsOverweight

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