Intel (INTC) Stock Rises as Analyst Says Earnings Could Quadruple in Four Years
TLDR
- Intel stock was up 1.65% in premarket trading Monday, opening at $92.32
- Bank of America analyst Vivek Arya says Intel’s earnings could quadruple over the next three to four years
- Intel beat Q2 expectations with EPS of $0.42 vs $0.21 estimated and revenue of $16.13 billion vs $14.43 billion expected
- OMERS Administration increased its Intel position by 63% in Q1, buying 61,550 additional shares
- Analysts hold a consensus “Hold” rating with an average price target of $107.67
Intel stock was up 1.65% in premarket trading Monday, sitting at $93.85. The stock opened the session at $92.32, with Nasdaq futures up 1.28% and S&P 500 futures up 0.79%.
The move comes after a strong Q2 earnings report last Thursday. Intel posted EPS of $0.42, doubling the consensus estimate of $0.21. Revenue came in at $16.13 billion, well above the $14.43 billion analysts expected.
That revenue figure is up 25.2% year-over-year and represents Intel’s fastest revenue growth in more than 15 years.
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