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Investing.com — Intel Corporation (NASDAQ:INTC) shares rose over 2% Wednesday on the back of a research note from Northland, which upgraded the stock to outperform from market perform.
Analyst Gus Richard, who also set a price target of $62 on the shares, told investors that for the first time in many years, the firm believes Intel is “starting to execute on a coherent strategy.”
“While it is early in the turnaround, estimates are conservative. High multiple stocks maybe under pressure and INTC is a relative value with a 2.7% dividend and likely a good place for large-cap managers to wait out multiple compression,” added the analyst.
New Street also gave Intel’s share price a slight lift when they said the company maintains a lead against Advanced Micro Devices (NASDAQ:AMD) based on single-thread performance metrics.
