(CercleFinance.com) – JPMorgan resumed monitoring Intel stock on Friday with an ‘underweight’ recommendation and a price target of $32.
The broker explains that he resumed monitoring the value following a restriction period which had forced him to give up the coverage of the title.
Prior to that, JPMorgan posted an ‘overweight’ board with a target of $64.
In its note, the broker recalls that it has a favorable opinion on semiconductors, but considers that Intel should be excluded from the dynamism of the sector due, among other things, to pressure exerted by its competitors and difficulties in its capacity of execution.
‘After many years of losing market share in server processors to AMD and numerous failures in carrying out its projects, we believe that it will take several years for Intel to turn the tide and regain market shares’, believes the professional.
JPMorgan recalls that it had taken four years for Lisa Su, the general manager of AMD, for her group to finally return to market share gains and for the title to find its way back up.
On this basis of comparison, the first results of the strategy of Pat Gelsinger, the new boss of Intel, will not be visible before 2024, or even 2025, warns the broker in its study.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
