1108 ET - Intel has a greater opportunity to restructure and turn things around the new leadership of Lip-Bu Tan, say analysts at BofA Securities in a research note. The beleaguered semiconductor company on Wednesday selected Tan, a former board member and longtime industry executive, as its new CEO. The analysts cite Tan's track record of success at Cadence Design Systems, among other factors in why they like the pick. They also think improving market conditions might help Intel divest certain assets, which would delever its balance sheet. "Intel's material turnaround remains a work in progress, but if executed well could be [an] incremental headwind for peer AMD," say the analysts. Shares surge 15% following the appointment. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
March 13, 2025 11:08 ET (15:08 GMT)
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