Intel (INTC) Results/Outlook 'Better than Feared' - RBC Capital

April 16, 2013 4:54 PM EDT
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Price: $36.94 +1.01%

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    42 Buy, 20 Hold, 5 Sell

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    Up: 30 | Down: 30 | New: 23
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RBC Capital analyst Doug Freedman offered a first glance at Intel's (NASDAQ: INTC) Q1 results and outlook, reported after the close. He said Q2 revenue guidance, although in-line, was better than feared.

"Despite a penny miss in Q1, Intel is guiding to an in-line Q2 on revenues," he notes. "In addition, CapEx guidance for FY13 is reduced to $12bil from $13bil due to reuse of equipment. Intel still maintaining FY13 revenue, gross margin and OpEx targets. "

He maintained a Sector Perform rating and $24 price target into the conference call.

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 $21.38 yesterday.

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