Citi Downgrades Intel to Sell Rating

Deep News
02/21

Following yesterday's surge driven by news of Nvidia's $5 billion investment, Intel's stock price declined today—Citi downgraded its rating to "Sell." Citi warned that Intel's foundry business continues to struggle, and Nvidia's investment won't be enough to turn it around. While the bank raised its price target for Intel to $29, reflecting recent stock gains, with the current price around $30, this still implies a "Sell" rating. As a component of the S&P 500, Intel's shares fell 2.2%.

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