Downbeat Intel shares set to extend rebound
** Shares of chipmaker Intel INTC.O rise 4% to $35.34 in premarket trading
** The stock has risen nearly 10% in the past four sessions, including a ~6% rise on Monday
** Despite the gains, Intel INTC.O is down 32% YTD, making it the second worst performing stock on the Philadelphia chip index .SOX, which is up 38% in the same period
** Intel, which has steadily lost data center market share to its rival AMD AMD.O, launched its latest chip last month
** The median PT based on 44 brokerages covering INTC has moved lower to $35, which implies a 3% gain over the next 12 months, from $45 three months ago - LSEG
** Wall Street average rating is "hold" - LSEG
Reporting by Medha Singh
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