Intel (INTC) stock advanced to highs above 3% on Friday despite a prominent Wall Street analyst cutting his price target on the stock.
Stifel reduced its price target on Intel stock. Intel is scheduled to deliver earnings for Q3 next week. Wall Street expects adjusted EPS of $-0.03 on revenue of $13.04 billion. Dow Jones closes 0.6% lower despite bouncing around during the session. Intel stock advanced to highs above 3% on Friday despite a prominent Wall Street analyst cutting his price target on the stock. Stifel’s Ruben Roy lowered his price target on Intel from $28 to $25.
stock ended Friday up 1.5% to $22.67. The Dow Jones Industrial Average , of which Intel is a member, closed 0.6% lower as the NASDAQ gained a similar amount. Intel stock news Intel is coming up on its third-quarter earnings release on October 31, which happens to be Halloween. The market is hoping to get through the spookiness with adjusted earnings per share of $-0.03 next week and revenue of $13.04 billion. Intel earned $0.41 on $14.16 billion one year ago in that third quarter.
stock has risen above the 50-day Simple Moving Average over the past month, which is a good look for the struggling semiconductor. Now shares need to overtake resistance at $24.90. The 100-day SMA at $25.52 is just a big higher. Everything hings on next Thursday's earnings release though, so positioning for technical reasons loses its attractiveness.
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