Intel (INTC) Receives a New Rating from a Top Analyst

By Carrie Williams

In a report released today, Quinn Bolton from Needham assigned a Buy rating to Intel (INTCResearch Report), with a price target of $70.00. The company’s shares closed last Monday at $54.31.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 45.2% and a 76.7% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Ultra Clean Holdings, and Allegro MicroSystems.

Currently, the analyst consensus on Intel is a Hold with an average price target of $60.86, implying a 15.2% upside from current levels. In a report issued on July 16, UBS also maintained a Buy rating on the stock with a $73.00 price target.

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The company has a one-year high of $68.49 and a one-year low of $43.61. Currently, Intel has an average volume of 24.14M.

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Intel manufactures and sells microprocessors, chipsets, flash memory as well as other products and platforms for compute, storage, network and other functions. The company’s data-centric businesses include Data Center Group (DCG), Internet of Things (IOTG), Mobileye, Non-volatile Memory Solutions Group (NSG), Programmable Solutions Group (PSG), with the PC-centric business comprised of Client Computing Group (CCG). It derives a majority of its revenue from platform products, which incorporate various components and technologies, including a microprocessor and chipset, a stand-alone SoC, or multichip package.