Canaccord Remains Neutral On Intel Shares Ahead Of Next Week’s IDF
In a research report issued today, Canaccord Genuity analyst Matthew Ramsay assigned a Hold rating on Intel (NASDAQ:INTC) with a price target of $33. The reports comes ahead of next week’s Intel Developer Forum (IDF) in San Francisco.
Ramsay wrote, “We are attending Intel Developer Forum (IDF) next week in San Francisco. In addition to the conference keynotes and primary technical track for Intel partners and developers, the company is hosting a diverse track of investor/analyst Q&A sessions with the senior management team and executives from each key business unit. While we anticipate the discussion of continued strong fundamental data points for near-term growth in DCG, we believe evidence of a path to profitability in Mobile and further clarity around the long-term foundry strategy are of increasing importance as Intel shares continue to make new 10-year highs. We expect neither next week.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Matt Ramsay has a total average return of -5.1% and a 66.7% success rate. Ramsay is ranked #2893 out of 3270 analysts.