HSBC upgraded Intel (INTC) to Hold from Reduce with a $20 price target The stock is now fairly priced, as recent uncertainties relating to execution of the “IDM 2.0” strategy as well as top management attrition are reflected in the shares, the analyst tells investors in a research note. HSBC sees limited downside from current levels with Intel down nearly 40% from the July peak. While the firm acknowledges that the “worst seems to be over” for Intel and all headwinds from the past few months seem to be priced in, it says it remains early to have a clear view on its execution leading to overall recovery of the business.
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