The Vetr crowd on Friday downgraded its rating for Intel Corporation (NASDAQ: INTC) from 3 stars (Hold), issued 11 days ago, to 2.5 stars (Sell). Crowd sentiment at the time of the downgrade was generally positive, with 77 percent of Vetr user ratings bullish.
The downgrade comes one week before Intel is set to release its first quarter earnings. Share price in the company has trended down through most of 2017 from a high of about $38, finding a range between $35 and $36 for most of the past two months.
However, Intel's price has a history of spiking up on the approach in the case of previous reports, particularly given the company's fairly consistent record of beating on earnings, which it has maintained for seven earnings seasons.
Learn how crowdsourced ratings could help you time the market.
Currently, the Vetr crowd's average target price for Intel is down at $35.07, which is below the average analyst rating of $40.41. Intel Corporation is a popular stock on Vetr as more than 2 percent of users are holding INTC in their watch lists.
Latest Ratings for INTC
|Mar 2017||Macquarie||Initiates Coverage On||Outperform|
|Mar 2017||Credit Suisse||Downgrades||Outperform||Neutral|
View More Analyst Ratings for INTC
View the Latest Analyst Ratings
See more from Benzinga
- As Price Falls, Vetr Upgrades GlaxoSmithKline To Buy
- Vetr Crowd Issues Downgrade On Facebook After Week Of Controversy
- Vetr Is Loving McDonald's New Highs, Upgrades Stock To Buy
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.