- The shares of Intel Corporation (NASDAQ: INTC) have received a $45 price target from Citi. These are the details.
The shares of Intel Corporation (NASDAQ: INTC) have received a $45 price target from Citi. And Citi analyst Christopher Danely is maintaining a “Neutral” rating on the shares.
Danely adjusted the rating while acknowledging an expected downside to the semiconductor consensus estimates in the second half of 2022 for the first time since the pandemic driven by lower PC and handset demand. Plus Danely believes that the downside will spread to other sectors like automotive and it would last for a few quarters given the slowing economy and buildup of inventory. And semi stocks could decline another 30% based on 20% downside to estimates and 10% downside to multiples based on previous downturns.
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