Goldman Sachs Maintains Sell Rating for Intel: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has reaffirmed its Sell rating on Intel Corporation (NASDAQ:INTC) but increased its price target from $34.00 to $39.00. Despite the raised target, the new price still suggests a potential downside of 9.9% from Intel's current share price of $43.28. Intel is a major chipmaker, leading in the PC and server CPU markets and expanding into new areas like automotive and IoT. The company is also moving towards an outsourced foundry model.
January 29, 2024 | 5:00 pm
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Goldman Sachs maintains a Sell rating on Intel but raises the price target from $34 to $39, suggesting a potential 9.9% downside from the current price.
The reaffirmation of the Sell rating by Goldman Sachs is likely to have a negative impact on investor sentiment towards Intel in the short term. Although the price target was raised, it still represents a potential decline from the current trading price, which could lead to bearish investor behavior. The confidence in this analysis is high due to the influence of Goldman Sachs' ratings on market perceptions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100