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Intel Shares rise After Northland Upgrade -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Intel Corporation (NASDAQ:) shares rose over 2% Wednesday on the back of a research note from Northland, which upgraded the stock to outperform from market perform.

Gus Richard, an analyst, also gave a $62 price target for shares. He stated that Intel believes it is now “starting to execute on coherent strategies” for the first times in years.

Although it’s early in the turnaround process, these estimates remain conservative. The analyst stated that high multiple stocks could be under pressure. INTC, a relative value offering a 2.7% dividend, is likely to provide a place for large-cap manager’s to hold off multiple compression.

New Street also helped Intel’s stock price to rise slightly when it said that Advanced Micro Devices is still ahead of Intel (NASDAQ:), based only on single-thread performance metrics.

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