Intel Price Target Raised to $35.00 at Deutsche Bank (INTC)
Research analysts at Deutsche Bank upped their price target on shares of Intel (NASDAQ:INTC) from $30.00 to $35.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target points to a potential upside of 25.18% from the stock’s previous close.
In other Intel news, President Renee Jo James unloaded 79,190 shares of Intel stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $27.50, for a total value of $2,177,725.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Intel (NASDAQ:INTC) traded up 7.15% during mid-day trading on Friday, hitting $29.96. 77,600,560 shares of the company’s stock traded hands. Intel has a 52 week low of $21.89 and a 52 week high of $28.42. The stock has a 50-day moving average of $26.76 and a 200-day moving average of $25.55. The company has a market cap of $149.1 billion and a P/E ratio of 14.96. Intel also saw a large decrease in short interest in the month of May. As of May 30th, there was short interest totalling 170,211,540 shares, a decrease of 4.2% from the May 15th total of 177,732,864 shares. Approximately 3.4% of the company’s stock are sold short. Based on an average daily volume of 24,560,599 shares, the days-to-cover ratio is currently 6.9 days.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.81 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts predict that Intel will post $1.89 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on INTC. Analysts at Morgan Stanley upgraded shares of Intel from an “underweight” rating to an “equal weight” rating in a research note on Friday. They now have a $28.00 price target on the stock, up previously from $24.00. Separately, analysts at Roth Capital upgraded shares of Intel from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $35.00 price target on the stock, up previously from $28.00. Finally, analysts at Canaccord Genuity raised their price target on shares of Intel from $29.00 to $31.00 in a research note on Friday. They now have an “underweight” rating on the stock. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.18.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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