UPDATE: Stifel Nicolaus Reduces PT to $28 on Intel on Market Uncertainty
Stifel Nicolaus reiterated its Buy rating on Intel (NASDAQ: INTC) but lowered its price target from $33 to $28.
Stifel Nicolaus noted, "While the PC market will see a plethora of Win 8 based products introduced in coming weeks, macroeconomic uncertainties combined with lack of 'need to have' marketing have kept expectations uncertain, at best. [W]e believe Intel management is making the right moves to navigate through this weak demand period without slowing its strategy for introducing lower power, higher performance processors."
Intel closed at $22.35 on Tuesday.
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