Why Intel Stock Popped Today

Intel (NASDAQ: INTC) stock enjoyed a modest lift on Tuesday, rising 2% through 11:05 a.m. ET amid conflicting moves on Wall Street.As The Fly reports this morning, investment bank Citigroup trimmed its Intel price target from $22 to $21 per share, at the same time as HSBC upgraded the stock from reduce to hold.Intel stock sits just below $22 a share, so Citi's new price target implies the stock is going to fall in value over the next 12 months. Citi forecasts "sluggish demand" for PC, automotive, and industrial chips this year, offset by strength in the data center, artificial intelligence, and communications markets. All things considered, Citi is maintaining a neutral view on Intel stock, indicating it thinks investors should hold on. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool