Piper Jaffray Reiterates Neutral Rating, $19 PT on Intel Corporation

Loading...
Loading...
In a report published Monday, Piper Jaffray & Co. reiterated its Neutral rating and $19.00 price target on Intel Corporation
INTC
. Piper Jaffray noted, “Intel's CEO of eight years is leaving the company amidst what we see as difficult challenges for the company in the post-PC era. While Intel's manufacturing capability is currently second to none, Samsung is catching up. Increasingly, new designs favor less expensive process technology, not high performance transistors used in PC CPUs. In the mobile era, customers such as Google, Facebook and Apple are designing their own mobile processors and server processors. As the PC market has stagnated, Intel has tried to pivot to mobile and increasingly to foundry. However, Intel has had very limited success in mobile and Intel's prices for foundry wafers are 3x that of TSMC's. The new CEO will also have numerous internal conflicts to resolve while moving the company forward. Although Otellini's departure is billed as a retirement, in many cases it is not a positive sign when a CEO leaves. Maintain Neutral.” Intel Corporation closed on Friday at $20.19.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorReiterationAnalyst RatingsPiper Jaffray & Co.
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...