Intel (INTC) Benefiting from Datacenter, Better PC and iPhone, Baird Says; PT to $42
- Wall Street drops as investors brace for presidential debate
- Disney (DIS) Working with Adviser on Potential Twitter (TWTR) Bid - Bloomberg
- Rice Energy (RICE) Acquires Vantage Energy in $2.7B Deal; FY16 Outlook Updated
- Kite Pharma (KITE) Announces Positive Topline Data from KTE-C19 ZUMA-1 Study in Aggressive NHL
- After-Hours Stock Movers 09/26: (KITE) (SNX) (ARRY) Higher; (SXL) (NAT) (RICE) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Shares of Intel closed at $36.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Himax Technologies (HIMX) PT Cut to $10 at Baird on Weaker AR Revenue
- GW Pharma (GWPH) PT Raised to $182 at Cantor Fitzgerald Following Successful Second LGS Trial
- UPDATE: Goldman Sachs Starts Hyatt Hotels (H) at Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRobert W Baird
Sign 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!