Market Overview

UPDATE: Sterne Agee Cuts PT to $18 on Intel on PC Build Checks

Share:
Related INTC
Ambarella Slowly Emerging From GoPro's Shadow
First Trust Gets Smart With New Sector ETFs
Apple's Tired Old Macs Soon To Get Upgrades (Seeking Alpha)

Sterne Agee reiterated its Neutral rating on Intel (NASDAQ: INTC) while reducing its price target from $19 to $18.

Sterne Agee noted, "While there is optimism that MarQ PC sales could stabilize, our checks indicate a MarQ PC build closer to being seasonally down 7-10% q/q versus current consensus of down 3% q/q. Given very high INTC inventories and seasonal MarQ PC builds, we PC inventories will continue to be an overhang. We believe while tablets are a long-term structural challenge to PCs, the high price tag on the Surface-Pro and any OEM Win8 tablets production only in JunQ limit upside. Lowering estimates & PT to $18."

Intel closed at $19.57 on Friday.

Latest Ratings for INTC

DateFirmActionFromTo
Sep 2016SusquehannaInitiates Coverage onPositive
Sep 2016UBSMaintainsBuy
Sep 2016Roth CapitalMaintainsBuy

View More Analyst Ratings for INTC
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (INTC)

View Comments and Join the Discussion!