Intel (INTC): Reiterate Top Pick Ahead Of Earnings - Wells Fargo
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Wells Fargo analyst, David Wong, reiterated his Outperform rating on shares of Intel (NASDAQ: INTC) and reiterated it as his top pick ahead of earnings on 10/18.
The analyst thinks that Intel’s September quarter report and December quarter guidance will reflect: (1) Signs of improving PC demand for Intel’s Client Computing Products, (2) Solid revenue momentum and a jump in year/year growth in Intel’s Data Center Group driven in part by ramping sales of several new product families, (3) The benefits from Intel’s restructuring efforts, and (4) Ramping sales of Intel modems for Apple iPhone 7.
No change to the valuation range of $40 - $50.
Shares of Intel closed at $36.97 yesterday.
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