UPDATE: Pacific Crest Securities Reiterates on Intel on Multiple Positive Factors
In a report published Wednesday, Pacific Crest Securities analyst Michael McConnell reiterated an Outperform rating on Intel (NASDAQ: INTC), and raised the price target from $31.00 to $32.00.
In the report, Pacific Crest Securities noted, “We are buyers of INTC due to improving corporate PC demand, a high likelihood for Intel's Grantley server platform to spur traditional IT spending in 2015, and a call option on foundry share gains over the long term, likely leading to a multiple expansion.”
Intel closed on Tuesday at $26.77.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.