Computer processor maker Intel Corporation ( INTC ) on Thursday caught an upgrade from analysts at Morgan Stanley.
The firm said it boosted its rating on INTC from "Equal-weight" to "Overweight" with a $26 price target. That target implies an expected 24% upside to the stock's Wednesday closing price of $21.04.
Morgan Stanley said the move was a valuation call, since the stock has already priced in risks to growth.
Intel shares fell 16 cents or, -0.8%, in premarket trading Thursday.
The Bottom Line
Shares of Intel Corp ( INTC ) have a 2.99% dividend yield, based on last night's closing stock price of $21.04. The stock has technical support in the $19 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 Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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