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Intel Downside: ABN Amro Says the Stock May Fall Under $20
The big news on Intel(INTC Quote) comes after the closing bell, but one analyst that tracks the company whipped up a little news of his own, downgrading the stock to reduce from hold.
ABN Amro analyst Paul Leming says the chipmaker's stock may fall below $20, a 31% drop from Monday's close of $29.13. The analyst also said that in tonight's second-quarter earnings report, Intel "will either miss the consensus estimate for the quarter (noticeably), or will make the quarter by borrowing so heavily from the third quarter that third quarter earnings will be very disappointing."
Intel eased 50 cents, or 1.7%, to $28.63 out of the gate this morning. ...
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