5 Stocks Receiving a Massive Vote of Approval From Wall Street Analysts

02. Intel Corporation (NASDAQ:INTC)

Price Reaction after the Upgrade: +3.02 (+9.29%)

On October 27, HSBC analyst Frank Lee implemented a notable upgrade for Intel Corporation (NASDAQ:INTC), transitioning the stock rating from Reduce to Hold. This strategic shift was accompanied by a significant adjustment in the price target, rising from $27.00 to $33.00, signifying a more optimistic outlook on Intel’s market performance. As of the latest market data, Intel Corporation (NASDAQ:INTC) stock is currently valued at $35.54, reflecting a robust increase of 9.3%. The notable upswing in market value following the upgrade suggests a positive response from investors to the revised rating and the heightened price target set by HSBC.

ClearBridge Large Cap Value Strategy made the following comment about Intel Corporation (NASDAQ:INTC) in its Q3 2023 investor letter:

“We also added to our position in Intel Corporation (NASDAQ:INTC) to take advantage of signs that it continues to make progress on its goal of regaining technology leadership. Intel appears to be executing its technology/product roadmap; the company is on track to ramp up PC and server products over the next 12 months on advanced manufacturing nodes that we believe will be more competitive with chief rival Advanced Micro Devices. We also see green shoots in the PC and server markets, with an increasing possibility of a cyclical recovery in both end markets in 2024.”