Citi says Elon Musk was reportedly mentioned as a potential buyer of Intel (INTC) behind the paywall of SemiAccurate, the website that broke the news this morning of takeover interest in the chipmaker. Citi would view this as a “poor outcome” for Intel unless it was able to hire a CEO who would exit the merchant foundry business and have the three qualifications of advanced manufacturing experience, technical acumen, and Intel experience, the analyst tells investors in a research note. The firm keeps a Neutral rating on Intel with a $22 price target The stock in afternoon trading is up 9% to $21.40.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INTC:
- Dow Jones Jumps Alongside Treasury Yields Recovery
- U.S. officials weighed possible Intel, GlobalFoundries deal, Bloomberg says
- GlobalFoundries up 8% to $44.11 after Bloomberg report on semi space
- Intel Stock Soars on Reports It’s an Acquisition Target
- Company attempting to acquire all of Intel, SemiAccurate reports