Canaccord Genuity Remains Bullish on Intel (INTC)
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Rating Summary:
21 Buy, 32 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Canaccord Genuity reiterated a Buy rating and $43.00 price target on Intel (NASDAQ: INTC).
Analyst Matthew Ramsay commented, "With a near 3% dividend yield, a strong domestic employee and manufacturing base and increasing mix of non-PC-exposed growth businesses, we believe INTC shares remain a core technology holding for 2017 at an attractive valuation, provided management sets a more realistic long-term DCG business growth target at the upcoming February analyst day. Ahead of the Q4 report next Tuesday, we anticipate a sub-seasonal PC quarter following the strong Q3 channel fill for KabyLake (offset somewhat by strong iPhone modem sales), stronger but still below 15% Y/Y growth in DCG and seasonally strong performance from Intel's smaller business units. Despite slightly lowering 2017/18 DCG forecasts more in line with the anticipated new ~10% long-term growth target, we reiterate our BUY rating and $43 PT."
For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.
Shares of Intel closed at $36.76 yesterday.
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