Intel Stock Rises Slightly Despite Broader Declines, Buoyed by UBS Price Target Increase
-
Intel's stock price rose slightly even as broader markets declined, thanks to a modest price target increase by UBS analyst Timothy Arcuri.
-
Arcuri raised his Intel price target by $4 to $50 per share, but kept his neutral rating on the stock.
-
The price target adjustment reflects Arcuri's more positive view of Intel's foundry business under a new financial reporting approach.
-
However, Arcuri remains neutral on Intel overall due to competitive struggles in high-growth areas like AI.
-
On average, analysts forecast double-digit revenue growth for Intel over the next few years and a significant increase in earnings per share.