Intel: bosted by upgrade from Jefferies
(CercleFinance.com) - Intel shares are up almost 2% in Tuesday morning trading, going against the grain in Wall Street, after Jefferies upgraded its "underperform" rating on the stock to "neutral".
In a research note, the broker highlights the potential for change in the world leading semiconductor chip manufacturer.
For Jefferies - which has also raised its target price for the share from 40 dollars to 64 dollars - the sale of its memory business could alone add five dollars to the semiconductor manufacturer's share price.
Meanwhile, a reduction in SG&A costs could add 12 dollars to the share price, while a "fabless" model - which would see the Santa Clara (California) based company get rid of all its foundries - would represent 19 dollars per share, according to Jefferies' estimates.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research note, the broker highlights the potential for change in the world leading semiconductor chip manufacturer.
For Jefferies - which has also raised its target price for the share from 40 dollars to 64 dollars - the sale of its memory business could alone add five dollars to the semiconductor manufacturer's share price.
Meanwhile, a reduction in SG&A costs could add 12 dollars to the share price, while a "fabless" model - which would see the Santa Clara (California) based company get rid of all its foundries - would represent 19 dollars per share, according to Jefferies' estimates.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.