Analysts Concerned Intel (INTC) Could Cut Guidance

Shares of Intel (Nasdaq: INTC) are rising today with the broader markets despite several recent negative analyst comments related to the stock. Intel's stock price is currently up 4.5% to $13.89.

First, analysts at Stifel Nicolaus cut their price target on Intel this morning, citing possible negative estimate revisions for semiconductor companies such as Intel amid weak market conditions. The firm points to AMD's (NYSE: AMD) recent lowered Q4 guidance as a potential indication that Intel could also soon be announcing lowered guidance. Stifel Nicoalus moved its price target on Intel from $20 to $17, but kept its investment rating at Buy.

Also, last week on Friday, Friedman, Billing & Ramsey cut its price target on Intel from $17 to $15.50, citing similar market conditions. FBR maintained its Market Perform rating on Intel.

Intel Corporation engages in making, marketing, and selling integrated circuits for computing and communications industries worldwide.

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