JPMorgan Raises Its Estimates For Intel (INTC, JPM)
JPMorgan Securities (NYSE: JPM) has raised its estimates for Intel (NASDAQ: INTC). In a recently released report, the research firm stated that the demand for semiconductors is likely to remain above-average. The firm raised its revenue estimate for calendar year 2010. Revenue for 2010 is pegged at $43.2 billion, and earnings per share estimates are at $1.75. Earlier figures were at $41.3 billion and $1.55 respectively.
Intel (INTC) is expected to increase its shipments and lower its costs. Revenue estimates for calendar year 2011 have been set at $45.2 billion. EPS for 2011 is expected to be $1.71. The report has a price target of $17 for Intel, based on a 10X multiple of estimated 2011 EPS. JPMorgan has retained its ‘Neutral’ outlook for the stock.
