Citi Reiterates a Hold Rating on Intel Corporation (INTC), Sets a $24 PT

Intel Corporation (NASDAQ:INTC) is one of the best growth stocks under $50 to buy now. On September 4, Citi analyst Christopher Danely reiterated a Hold rating on Intel Corporation (NASDAQ:INTC) and set a $24.00 price target.

The analyst supported the optimistic rating with the company’s product development timelines and strategic partnerships, stating that a primary factor is the collaboration between Intel Corporation (NASDAQ:INTC) and the US government.

He stated that the partnership would act as a silent partner without affecting company decisions and is regarded as a stable support for the company’s future prospects.

Danely added that while Intel Corporation’s (NASDAQ:INTC) technological advancements (such as the 18A process node and Panther Lake CPU) are progressing as planned, the company’s profitability remains below the average trading range of semiconductor companies, warranting a cautious outlook.

Intel Corporation (NASDAQ:INTC) designs, manufactures, and sells computer products and technologies, delivering data storage, computer, networking, and communications platforms.

The company’s operations are divided into the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.

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Disclosure: None. This article is originally published at Insider Monkey.