Markets

Intel Upgraded to “Overweight” at Morgan Stanley (INTC)

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.

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.

Created by Dividend.com


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

In This Story

INTC

Other Topics

Stocks