UPDATE: Deutsche Bank Reiterates on Intel on Positive Outlook
In a report published Wednesday, Deutsche Bank analyst Ross Seymore reiterated a Buy rating on Intel (NASDAQ: INTC), and raised the price target from $28.00 to $30.00.
In the report, Deutsche Bank noted, “INTC posted solid results/guidance, with GM providing upside to EPS. Looking fwd, we believe INTC's 2H14 guidance is prudently conservative as it assumes little-to-no 2H revenue seasonality in the co's PC business and a decline in GMs (rising 14nm costs). Overall, we believe INTC is making solid progress on a number of key growth initiatives (DCG reacceleration, PC biz stabilizing, tablet/LTE traction, etc.) while simultaneously taking steps to reduce costs (headcount dropping in 2014). We expect this combination to unlock EPS/FCF power at INTC and yield incremental valuation expansion as well. Maintain Buy.”
Intel closed on Tuesday at $26.77.
Latest Ratings for INTC
|Apr 2016||Goldman Sachs||Maintains||Neutral|
|Apr 2016||JP Morgan||Maintains||Overweight|
|Apr 2016||Northland Securities||Downgrades||Outperform||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.