Intel (INTC): Notebooks Could Lead To Upside From Guidance Midpoint - Baird
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Baird analyst, Tristan Gerra, reiterated his Outperform rating on shares of Intel (NASDAQ: INTC) and believes notebook trends bode well for the 4Q outlook.
The analyst believes there are signs of CCG revenue tracking a few percent higher in 4Q than what is embedded in Intel's guidance midpoint. The analyst's expectation of a 6% sequential increase in notebook units for 4Q means Intel's 4Q revenue is within the guidance range but above the midpoint.
Catalysts for 2017 include an ongoing stabilization in PC units and a continued mix shift towards data center.
No change to the price target of $42.00
Shares of Intel closed at $35.51 yesterday.
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