Market Overview

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

Share:
Related INTC
PacCrest Analysts Lower PC OEM Estimates En Masse
Will China Become The Center Of Semiconductor Universe? Industry Vet Gives His Take
Chip Equipment Makers Eye An Era Of Waning Apple iPhone Demand (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
Feb 2016KeyBancMaintainsOverweight
Feb 2016Goldman SachsUpgradesSellNeutral
Jan 2016MacquarieUpgradesNeutralOutperform

View More Analyst Ratings for INTC
View the Latest Analyst Ratings

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

 

Related Articles (INTC)

Get Benzinga's Newsletters