Analysts reset Intel stock price target ahead of earnings
Intel (INTC) stock has gained about 26.27% year to date, at the time of writing, Saturday morning, Jan. 17, according to Yahoo Finance. Meanwhile, SPY is up 1.43% in the same period. What caused Intel stock to outpace the S&P 500 by almost 25%?
Two significant analyst notes boosted the stock. The first one was on January 5, when Melius Research upgraded Intel to buy from hold with a $50 price target. The second was on January 13, when KeyBanc upgraded Intel to overweight (buy) from sector weight with a $60 price target.
KeyBanc analyst John Vinh wrote that Intel’s foundry reached yield rates more than 60% on its 18A manufacturing process (node), which are good enough to ramp Panther Lake, according to Wall St Engine’s post…
