Intel’s Estimates and Target Cut at Sterne Agee (INTC)

By Staff,

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Computer processor maker Intel Corporation ( INTC ) 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 sales.

Still, the analyst maintained its "Buy" rating for the stock.

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 ( INTC ) is not recommended at this time, holding a 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 .

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

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This article appears in: Investing Stocks
Referenced Stocks: INTC

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