Computer processor maker Intel Corporation (
) on Monday saw its price target and earnings estimates cut by
analysts at Sterne Agee.
The firm lowered its price target for INTC to $24, which still
suggests a potential 25% upside to the stock's Friday closing price
of $19.15. Sterne Agee also lowered its earnings estimates for the
company, citing lower consumer spending as a drag on new PC
Still, the analyst maintained its "Buy" rating for the
Intel shares are mostly flat in the pre-market.
The Bottom Line
We had removed shares of INTC from our recommended list back on
June 8, 2010, when the stock was trading at $20.31. The company has
a 3.29% dividend yield, based on Friday's closing stock price of
$19.15. The stock has technical support in the $16-$17 price area.
If the shares can firm up, we see overhead resistance around the
$21-$22 price levels. We would remain on the sidelines for now.
Intel Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 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