Intel (INTC) Stays at Hold as Analyst Sees Long Road to Recovery

Intel Corporation (NASDAQ:INTC) is one of the AI Stocks on Wall Street’s Radar. On September 9, Truist Securities analyst William Stein reiterated a Hold rating on the stock with a $21.00 price target following a virtual meeting between Intel and investors.

The firm acknowledged that Intel has been making progress in its “turnaround”. However, these improvements may take some time and success is uncertain. Therefore, it hasn’t made any changes to its estimates.

“INTC’s road to recovery remains long & uncertain. We recently hosted a virtual meeting between INTC and investors. We believe the company is making progress in its turnaround. Recall, we see four important categories for improvement: culture, competitive capabilities, AI strategy, and government / ecosystem engagement. We discussed developments among all of these, and came away slightly encouraged by developments. Still, in our opinion, these improvements are going to take a while…and success is far from certain. No change to our estimates or PT. Hold.”

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

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