UPDATE: Stifel Nicolaus Increases PT to $35 on Intel

Stifel Nicolaus raises its price target from $34 to $35 on Buy-rated Intel INTC following a solid beat and above-seasonal outlook. Stifel Nicolaus says, "In our view, Intel is executing to both its near term and long term strategy. The near term gross margin pressure due to the 22nm process ramp is slight disappointment but as in past production ramps, the lower costs drive gross margins higher in following quarters. We expect Intel's new product ramps in both client PC and servers to drive above seasonal revenue growth. Meanwhile, we look for its handheld products to continue to gain traction." INTC closed at $28.47 on Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsStifel Nicolaus
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!