Evercore Maintains Underweight on Intel
In a report published Friday, Evercore analyst Patrick Wang maintained Underweight on Intel (NASDAQ: INTC), keeping its $20.00 price target.
According to the report, regardless of seemingly better consumer PC data points and improving investor sentiment a cautious view is maintained over INTC.
“It's lonely up in the Cloud as Intel basically has a monopoly (3Q13: 97% server unit share),” the report noted. “But no worries, we expect a slew of ARM-based solutions to join them over the course of this year starting with AMCC's X-Gene 1 (launch now). Will Intel be able to continue its impressive ASP trends (+5% from '08 to '13) while defending share?”
Some key points from the report include: -Desktop +12% YoY in 4Q -Tablet profitability unclear
INTC closed Thursday at $26.54.
Latest Ratings for INTC
|Oct 2016||Charter Equity||Upgrades||Market Perform||Buy|
|Oct 2016||Deutsche Bank||Maintains||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.