Citigroup reported on Thursday that it has lowered its estimates on technology company, Intel Corporation (INTC).
The firm has reduced its estimates on INTC through 2014 due to the impact of the Chinese New year, which resulted in weak PC demand. Analysts also see the release of the Haswell impacting the company.
Citigroup currently has a $23 price target on INTC, which suggests a 8% increase from the stock’s current price of $21.04.
Intel shares were down 17 cents, or -0.80% during Thursday morning trading. The stock has declined -24% in the past year.
The Bottom Line
Shares of Intel Corporation (INTC) have a 4.28% yield, based on Thursday morning’s price of $21.04.
Intel Corporation (INTC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.