Read Why Northland Upgraded Intel To Outperform

Northland analyst Gus Richard upgraded Intel Corp INTC to Outperform from Market Perform with a $62 price target. The price target implies a 16.7% upside.
Richard thinks Intel is starting to execute on a "coherent strategy" for "the first time in many years."
Related Content: Read Why Tigress Financial Remains Bullish On Intel
While early in its turnaround, he thinks estimates are conservative.
Richard also argues that Intel is likely "a good place for large-cap managers to wait out multiple compression" as high multiple stocks come under pressure.
Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets.
Price Action: INTC shares traded higher by 0.79% at $53.56 in the premarket session on the last check Wednesday.

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