Two firms reported mixed outlooks for technology company, Intel Corporation(INTC) on Monday.
Drexel Hamilton has downgraded INTC today, lowering its rating from a “Hold” to a “Sell.” The firm currently has an $18 price target on the company, suggesting a a -17.5% decline from the stock’s current price of $21.16. Analysts have lowered their rating for INTC due to an increase in mobile sales, which may affect ultrabook demand.
Lazard analysts see growth this year for INTC, and have upgraded the company from “Neutral” to a “Buy.” The firm currently has a $26 price target on the company, an 18% upside on its current price.
Intel shares were up 15 cents, or 0.71% during premarket trading Monday. The stock has declined -16% in the past year.
The Bottom Line
Shares of Intel Corp (INTC) have a 4.25% dividend yield, based on Friday’s closing stock price of $21.16. The stock has technical support in the $19 price area. If the shares can firm up, we see overhead resistance around the $21-$22 price levels.
Intel Corporation(INTC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.