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RBC Initiates Intel (INTC) at Sector Perform, Awaits Proof on Margins and Foundry Execution
Intel Corporation (NASDAQ:INTC) is one of the AI Stocks Making Waves on Wall Street. On January 14, RBC Capital analyst Srini Pajjuri initiated coverage of the stock with a “Sector Perform” rating and a price target of $50. Firm analysts see strategic progress for Intel, but are awaiting proof of execution on gross margins and foundry progress before adopting a more constructive stance.
The analysts praised Intel’s management for doing a commendable job right-sizing the business. The company has also strengthened its balance sheet and entered into a strategic agreement with AI chipmaker Nvidia.
The analysts further noted how PC/Server demand looks healthy for the company, and that its product competitiveness is also improving. Despite these positives, they have also cautioned about higher memory prices and supply constraints.
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