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Evercore Maintains Underweight on Intel

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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

DateFirmActionFromTo
Mar 2015CLSAUpgradesSellUnderperform
Mar 2015JP MorganMaintainsOverweight
Mar 2015JefferiesMaintainsBuy

View More Analyst Ratings for INTC
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Posted-In: Evercore Patrick WangAnalyst Color Reiteration Analyst Ratings

 

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