Evercore Partners Maintains Equal-Weight, $25 PT on Intel
Evercore Partners reiterates its Equal-weight rating and $25 target price on Intel (NASDAQ: INTC) as the company announces project Houdini.
Evercore Partners says, "One of Intel's most significant but understated announcements made at CES was a project codenamed Houdini. It allows Android apps developed on ARM processors to be run directly on Intel x86 processors. This is enabled by dynamically translating the low-level assembly code and is currently in beta testing. Management expects to release this feature in 2Q12. Intel's AppUp market currently hosts 5k apps today but also supports HTML5. While somewhat small, it's a starting point and we expect the app library to significantly grow as Houdini is unveiled."
INTC closed at $25.75 per share on Thursday.
