UPDATE: Stifel Reiterates Buy Rating, Raises PT on Intel Corporation Following Annual Investor Day

In a report published Friday, Stifel analyst Kevin Cassidy reiterated a Buy rating on

, and raised the price target from $36.00 to $39.00. In the report, Stifel noted, “Intel hosted its annual investor day at its Santa Clara, CA headquarters on Thursday, 11/20/14. In our view, management's message was that Intel has been humbled by missing the mobile market and is relying on three strategies, Moore's Law, integration and shared IP, to both gain share in mobile and be certain they don't miss the next emerging market. Meanwhile, its core PC business has stabilized and its server business is expected to grow 15% annually. Management provided 2015 full year guidance (which may be conservative) and announced an increase to its dividend. We continue recommending the shares.” Intel Corporation closed on Thursday at $35.95.