Intel Growth Challenges Are Not Over Despite Altera Stake Sale: Analyst

JP Morgan analyst Harlan Sur reiterated an Underweight rating on Intel Corp INTC on Tuesday, setting a price forecast of $23.On Monday, before the market opened, Intel announced a 51$4.46 billion, valuing Altera at $8.75 billion with a transaction multiple of ~5.7 times calendar 2024 sales.As a reference, Intel bought Altera in 2015 at 9 times calendar 2014 sales and in 2020, and Advanced Micro Devices, ...