Goldman Sachs and Citigroup Reduce Estimates for Intel (INTC)

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Estimates have been lowered for technology company, Intel Corporation( INTC ) at Goldman Sachs and Citigroup on Thursday.

Goldman Sachs reported that they have given the company a price target of $16. This price target suggests a 19% decline from the stock's current price of $19.84. The firm predicts a decline as margins are expected
to decrease in the next couple quarters.

Additionally, estimates for INTC were also reduced at Citigroup with a price target of $21. This price target suggests a slight increase from the stock's current price. The firm currently has a "Neutral" rating on INTC. Analysts at Citi lowered estimates due to continued guidance risk.

Intel shares were down 26 cents or -1.29% during premarket trading Thursday. The stock is down -17.15% YTD.

The Bottom Line
Shares of Intel Corporation ( INTC ) have a 4.48% dividend yield, based on last night's closing stock price of $20.09. the stock has technical support in the $18 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels.

Intel Corporation( INTC )is not recommended at this time, holding a DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: INTC

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