Intel rises as Amazon deal boosts struggling foundry unit's prospects
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Roth/MKM on Intel (INTC): 'e are encouraged by the stepped-up pace of restructuring efforts'
September 17, 2024 9:30 AM EDTRoth/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... More
Wolfe Research on Intel (INTC): 'We don’t think spinning out the manufacturing business makes sense', 'Amazon agreement positive'
September 17, 2024 9:11 AM EDTWolfe Research analyst Chris Caso reiterated a Peerperform rating on Intel (NASDAQ: INTC).
The analyst comments "We dont think spinning out the manufacturing business makes sense, since the manufacturing and chip businesses are inextricably linked. INTC announced the formal split of manufacturing business into a separate entity, which is consistent with what INTC has said in the past. INTC management feels that separation is necessary to make potential foundry customers comfortable that the businesses are separate, that customers IP and interests will be protected, and it also allows managers in the chip... More
Truist Securities Reiterates Hold Rating on Intel (INTC)
September 17, 2024 8:49 AM EDTTruist Securities analyst William Stein reiterated a Hold rating and $25.00 price target on Intel (NASDAQ: INTC).
The analyst comments "AMC on 9/16, CEO Pat Gelsinger published a letter to Intel employees highlighting the next phase of the company's transformation following its last Board meeting.... More
