This is unfortunate for a member of the buttoned down, highly paid stock analyst community. Sanford Bernstein has evidently been bearish on Intel all the way up, most recently reaffirming a ‘sell’ on the stock:
April 24, 2018: Intel (NASDAQ:INTC)‘s stock had its “sell” rating reiterated by research analysts at Sanford C. Bernstein in a research note issued to investors on Tuesday. They presently have a $38.00 target price on the chip maker’s stock. Sanford C. Bernstein’s price target would suggest a potential downside of 26.14% from the company’s current price.
Much like so many market bears out there, Sanford Bernstein will eventually be right on Intel if we get a downside correction/bear cycle. Indeed, they may be touted as the ones who were right on Intel all along. But it’s been a long time since we (NFTRH+) first ID’d the big breakout in the mid-20s in 2014 (the post’s chart was lost in a database mishap at the old biiwii site), which established a target of 40 (later adjusted to mid-40s based on a subsequent pattern) and it is a lesson about how far stocks and markets can go and how long it can take them to get there.
The stock is over 56 in pre-market trading (long since destroying my target) after earnings. With Intel, Amazon and to a lesser degree Microsoft all booming in pre-market the bulls are showing that there is still some punch in the bowl as man, machine, algo, black box, casino patron, substance abuser and Ma & Pa fly back in to the big names. Meanwhile, looking at this monthly chart I feel like ending dynamics are still in play. But ya gotta have patience and ya gotta have balance.
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