Citi Reiterates a Hold Rating on Intel Corporation (INTC), Sets a $24 PT

Intel Corporation (NASDAQ:INTC) is one of the best growth stocks under $50 to buy now. On September 4, Citi analyst Christopher Danely reiterated a Hold rating on Intel Corporation (NASDAQ:INTC) and set a $24.00 price target.

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The analyst supported the optimistic rating with the company’s product development timelines and strategic partnerships, stating that a primary factor is the collaboration between Intel Corporation and the US government.

He stated that the partnership would act as a silent partner without affecting company decisions and is regarded as a stable support for the company’s future prospects.

Danely added that while Intel Corporation’s technological advancements (such as the 18A process node and Panther Lake CPU) are progressing as planned, the company’s profitability remains below the average trading range of semiconductor companies, warranting a cautious outlook.

Intel Corporation designs, manufactures, and sells computer products and technologies, delivering data storage, computer, networking, and communications platforms.

The company’s operations are divided into the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.

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This article is originally published at Insider Monkey.