Mizuho Securities Upgrades Intel (INTC) to Buy, 'Improving PC, DC, and Unlocking Value into 2024E'
Mizuho Securities analyst Vijay Rakesh upgraded Intel (NASDAQ: INTC) from Neutral to Buy with a price target of $50.00 (from $37.00).
The analyst comments "We are upgrading INTC to Buy with a $50PT (from Neutral, $37PT). We downgraded INTC in Oct-2021 at ~$56 (LINK) because we saw INTC lose focus from its core Data Center/Compute roadmap. Since then, INTC (Exhibit 1) has lost significant PC and DC market share and GMs are down to ~43% from ~56%. We now see INTC refocused on a better 2024E DC/PC roadmap, which could drive DC/PC share gains and improve margins."
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 $39.41 yesterday.