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UPDATE: Stifel Nicolaus Reduces PT to $28 on Intel on Market Uncertainty

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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.

Latest Ratings for INTC

DateFirmActionFromTo
Oct 2014Morgan StanleyDowngradesEqual-weightUnderweight
Oct 2014Pacific Crest MaintainsOutperform
Oct 2014BarclaysMaintainsEqual-weight

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