Bank Of America Remains Positive On Intel Corporation Ahead Of Annual Developer's Forum

In a report published Monday, Bank of America analyst Vivek Arya reiterated a Buy rating and $36.00 price target on Intel Corporation INTC.

In the report, Bank of America noted, “From Sep 9-11, Intel hosts its 14th annual developer's forum (IDF) where we expect Intel to convey its resolve to lead the nascent Internet of Things (IoT: wearables, industrial, autos, consumer) market. There will be updates on traditional PC, data center and mobile, but key day One sessions are devoted to IoT. We maintain Buy and a top pick on Intel as we believe it remains under-owned, and as Street underestimates the $3+ in EPS power as PCs stabilize, mobile losses are reduced and data center dominance continues. We expect IDF to sets Intel's agenda and reinforce the value in its leading edge manufacturing, scale, software and security assets.”

Intel Corporation closed on Friday at $35.00.