BMO Capital Downgrades Intel (INTC) to Market Perform

October 26, 2021 5:45 AM EDT
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Price: $53.62 -2.08%

Rating Summary:
    24 Buy, 24 Hold, 13 Sell

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Today's Overall Ratings:
    Up: 29 | Down: 32 | New: 34
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BMO Capital analyst Ambrish Srivastava downgraded Intel (NASDAQ: INTC) from Outperform to Market Perform with a price target of $52.00 (from $60.00).

The analyst commented, "We took a couple of days to think this through. We fail to see a scenario where shares outperform. We are thus lowering our rating on shares of INTC to a Market Perform from an Outperform. While we were prepared for the impact to the operating model as Intel invests in its foundry business, it is the underlying assumptions we struggle with. At best, we see shares staying sideways, or settling closer to our downside scenario of $45. We are also lowering our target price to $52 from $60."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $49.41 yesterday.



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