Intel (INTC) Benefiting from Datacenter, Better PC and iPhone, Baird Says; PT to $42
Get Alerts INTC Hot Sheet
Rating Summary:
21 Buy, 32 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
Baird analyst Tristan Gerra reiterated an Outperform rating and boosted estimates and his price target on Intel (NASDAQ: INTC) to $42.00 (from $40.00) after the company raised its Q3 revenue outlook.
The analyst notes the initial iPhone7 teardown shows Intel’s baseband inside and they estimate 40% market share and $12-$13 content. In addition, they continue to believe Intel will retain its market share position in the iPhone8. They believe engagement with Apple could eventually lead to a foundry partnership, a few years out.
"We think currently accelerating data center order momentum will help Intel’s outlook in 4Q and potentially continuing into 1Q17," Gerra commented. "Our initial PC unit outlook for 2017 is above consensus. Initial iPhone7 teardown shows Intel’s baseband inside. We continue to believe Intel will retain its market share position in the iPhone8, which should further and meaningfully reduce mobile losses in 2018."
The firm raised FY 2016 EPS from $2.00 to $2.05 and FY 2017 EPS from $2.42 to $2.45.
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 $36.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boston Scientific (BSX) PT Raised to $83 at Stifel
- KKR Real Estate Financial Trust (KREF) PT Lowered to $12 at JMP Securities
- Equifax (EFX) PT Lowered to $263 at Citi
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Robert W BairdSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!