Intel (NASDAQ:INTC) investors have enjoyed a constructive market ride over the last three months. Shares of the semiconductor giant raced nearly 15% higher, doubling the performance of the S&P 500 market barometer over the same period. Can Intel maintain these valuation levels, or is the stock overdue for a correction?
Intel is scheduled to report first-quarter earnings on Thursday, April 26th. The company’s focus on data center, cloud, self-driving car and Internet of Things (IoT) are key growth drivers for the first quarter.
Shah is forecasting revenue of $15.4 billion and EPS of $0.76, compared to consensus estimates of $15.1 billion and $0.71, respectively. The analyst points out that expected strength in Data Center drives his above-Street estimates.
The Street largely seems to echo Shah’s positive sentiment, considering TipRanks analytics showcase INTC as a Buy. Out of 29 analysts polled in the last 3 months, 19 are bullish on Intel stock, 7 remain sidelined, and 3 are bearish on the stock. With a potential upside of 10%, the stock’s consensus target price stands at $56.57.