Sterne Agee Reiterates Neutral Rating, $19 PT on Intel Corporation

In a report published Monday, Sterne Agee Group reiterated its Neutral rating and $19.00 price target on Intel Corporation

. Sterne Agee noted, “INTC announced that its CEO Paul Otellini is retiring after 8 years. There could be mixed reactions from investors with the challenges in Mobile and getting Ultrabooks to 40% of PCs in 2012, mixed with the opportunity of new management. Nonetheless, while INTC has a deep bench with Sean Maloney, who heads up INTC China, there are challenges as INTC strives to conjure a revival in PCs. We are buyers on 4G-LTE names QCOM-NXPI-SNDK.” Intel Corporation closed on Friday at $20.19.