Citi Raises PT On INTC To $27
Citi has raised its price target on Intel Corp. (NASDAQ: INTC) from $25 to $27, saying the stock is poised to outperform.
In the report, Citi writes, “While investors may remain skeptical, given our analysis below, we do not view Intel's results as incongruous with recent industry data. We therefore view their results as encouraging, suggesting semiconductor and PC outcomes are perhaps not as bad as feared. Meanwhile, we continue to focus on 22nm (to be announced in May) as a positive re-rating catalyst for Intel. We note that on our new estimates, Intel is in the bottom 5% of its historical PE and the lowest in 16 years. Noting that Intel's upward/total estimate revision ratio was 25% prior to their earnings report (Figure 1), we reiterate our expectation that Intel shares will outperform the sector and the markets in 2Q11.”
Citi maintains a Buy rating on the stock.
INTC closed yesterday at $19.86.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Citi Intel Corp.Analyst Color Price Target Analyst Ratings