Sterne Agee Reiterates Neutral Rating, $19 PT on Intel Corporation
In a report published Monday, Sterne Agee Group reiterated its Neutral rating and $19.00 price target on Intel Corporation (NASDAQ: INTC).
Sterne Agee noted, “INTC announced that its CEO Paul Otellini is retiring after 8 years. There could be mixed reactions from investors with the challenges in Mobile and getting Ultrabooks to 40% of PCs in 2012, mixed with the opportunity of new management. Nonetheless, while INTC has a deep bench with Sean Maloney, who heads up INTC China, there are challenges as INTC strives to conjure a revival in PCs. We are buyers on 4G-LTE names QCOM-NXPI-SNDK.”
Intel Corporation closed on Friday at $20.19.
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