Intel Stock Plunge 4%, Hits 5-Month Low After Mizuho Lowers Price Target
Mizuho analysts slashed their price target on Intel Corporation (INTC, Financial) stock on Friday, sending the chipmaker to a five-month low. Shares fell nearly 4% to a low of $19, the stock’s lowest level since September. Mizuho downgraded Intel from ‘neutral’ to ‘negative’ with a reduced price target of $21 from $23. This setback is coming at the same time when Intel’s future starts looking bleaker as President Biden prepares to announce tighter chip export controls.
Market performance has been a struggle for Intel for some time. The company is currently trading at levels not seen in nearly 22 years. The company’s leadership has changed several times,…
