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Benchmark upgrades Intel, says investors should get constructive on chip stock after earnings

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Intel beat on the top and bottom lines in its first quarter, and also posted its largest-ever quarterly loss.

Intel is a buy now that the worst is priced into the chip stock, Benchmark said. Analyst Cody Acree upgraded the semiconductor firm to buy from hold, saying that investors should get more "constructive" on the stock after its better-than-expected earnings results. Intel beat on the top and bottom lines in its first quarter. It also posted its largest-ever quarterly loss , as well as its fifth straight quarter of falling sales.

mountain Intel shares 1-day "[We] believe the company's results and outlook now reflect a worst case scenario considering the current macro-economic climate and accordingly we believe it is prudent to begin to take a more positive stance on Intel's shares," Acree said to clients in a Friday note.

 

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