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The Single Biggest Reason To Get Bullish On Intel

The Single Biggest Reason To Get Bullish On Intel

Now may be a good time to take a look at Intel Corporation (NASDAQ: INTC), according to a new report from BMO Capital markets.

Coming off a hot third quarter that saw a record EPS, BMO upgraded Intel's rating from Market Perform to Outperform and set a new target price of $58.

“The single biggest reason for our change in thinking is our belief that Intel is finally addressing a facet of the business model/company that we have struggled with in the past, lack of financial discipline, whether it comes to capital allocation, making acquisitions that have made little sense at least to us over the years, or simply keeping its operating model in check,” said BMO analyst Ambrish Srivastava.

After a long hiatus of not recommending Intel, BMO Capital now views the stock as attractively valued against its peer group and more broadly, despite a big share gain post earnings.

“Despite the recent move, the stock has been a long underperformer over multiple periods, and if the company begins to demonstrate consistent execution, the inherent leverage in the model would start to be recognized,” said Srivastava.


Related Links: Intel Has Record EPS In Q3

Latest Ratings for INTC

Oct 2019MaintainsMarket Perform
Oct 2019MaintainsUnderperform
Oct 2019MaintainsMarket Perform

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Posted-In: Ambrish Srivastava BMO CapitalAnalyst Color Long Ideas Upgrades Price Target Analyst Ratings Trading Ideas Best of Benzinga


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