Roth/MKM on Intel (INTC): 'e are encouraged by the stepped-up pace of restructuring efforts'
Roth/MKM analyst Suji Desilva reiterated a Neutral rating and $25.00 price target on Intel (NASDAQ: INTC)
The analyst comments "INTC announced multiple steps of progress in its foundry manufacturing and increased overall portfolio focus efforts. Across these efforts, key themes include creating an externally competitive manufacturing footprint, securing large foundry customers with long-term contract visibility, focusing/rightsizing the corporate portfolio, and proactively improving the corporate funding position. We are encouraged by the stepped-up pace of restructuring efforts and will look for more progress here before getting more constructive on the name. We maintain our Neutral rating."
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Shares of Intel closed at $20.91 yesterday.