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Fly News Breaks for August 13, 2019
INTC
Aug 13, 2019 | 07:50 EDT
As previously reported, Loop Capital analyst Cody Acree started Intel with a Hold rating and a price target of $50. The analyst contends that the company has done a "solid job" in generating record revenue and earnings in a flat PC market while growing its Data Centric businesses, but also believe that much of this is reflected in its current share price. Acree adds that Intel is facing a "challenging backdrop" that also includes "expensive" efforts to penetrate adjacent markets and increasing competition.
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