Intel: stock jumps on Mizuho upgrade

(CercleFinance.com) - Mizuho Securities announced on Thursday that it had upgraded its recommendation on Intel stock from "neutral" to "buy", with its price target raised from $37 to $50 (cp: $43, +6.
8%).

In a report, the broker said that it expected economic conditions in both the PC and data center server markets to improve by 2024.

The analyst also says that he expects the chipmaker to make solid product launches next year, with a portfolio of projects considered more promising than those of its competitors.

Meanwhile, Mizuho sees the spin-off of Altera's FPGA programmable chips generating $17 of additional value per share, implying a SOTP total of $84 by 2024-2025.

Despite all these positive factors, Intel shares are currently trading at a discount of over 50% to Nvidia's 80%, he points out.



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