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.

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Source Fool.com