Market Overview

UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Intel Corporation

Share:
Related INTC
Vetr Crowd Thinks AMD Is Running Hot
Intel Corporation, Mobileye May Be Star-Crossed Lovers, But Chowdhry Calls Veronian Tragedy
Apple Confirms Self-Driving Car Interest, 'Investing Heavily' In Automation (Investor's Business Daily)

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Intel Corporation (NASDAQ: INTC), but lowered its price target from $29.00 to $24.00.

Jefferies noted, “INTC beat recently lowered expectations, but forecasted 1% QQ revenue growth in 4Q and for 4Q gross margins to drop to 57.5%. We're sympathetic to the bull case, which is that INTC will see better orders from an inventory restock and better demand as Windows 8 launches, but we model gross margins to stay below 59% through 1Q, and believe there is time.”

Intel Corporation closed on Tuesday at $22.35.

Latest Ratings for INTC

DateFirmActionFromTo
Oct 2016Charter EquityUpgradesMarket PerformBuy
Oct 2016Deutsche BankMaintainsBuy
Oct 2016NomuraMaintainsBuy

View More Analyst Ratings for INTC
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Related Articles (INTC)

View Comments and Join the Discussion!