Why Intel Stock Climbed While the Market Fell Today
Many tech stocks sank in the light gloom that was the equity market on Monday. One exception was that chipmaking mainstay, (NASDAQ: INTC). The company's share price saw an uptick of just under 1%, thanks to an analyst's modest yet still positive price target adjustment. By comparison, the uninspired S 500 index sagged by 0.2% on the day.
Before market open, UBS' Timothy Arcuri made the change. He added $4 per share to his Intel price target for a new level of $50. That doesn't put him in the bull camp for the veteran tech company, however; in making the move, he left his neutral recommendation on the stock unchanged.
Arcuri's adjustment is due to a change in financial reporting Intel recently announced that affects its Intel Foundry manufacturing business. This will better reflect what the company believes is the "foundry-like relationship" between the unit and Intel Products -- the goods it sells.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 22 Buy predictions and 16 Sell predictions.
As a result the target price of 38 € shows a very positive potential of 93.54% compared to the current price of 19.63 € for Intel Corp..
