Intel (INTC) Target Bumped Higher at Canaccord Genuity, But 'Hold' Maintained

January 17, 2014 10:01 AM EST
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Price: $36.79 --0%

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    42 Buy, 20 Hold, 5 Sell

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Canaccord Genuity analyst Bobby Burleson reiterated a Hold rating but bumped his price target on Intel (NASDAQ: INTC) from $22 to $24 following lackluster Q1 results and outlook.

"We remain HOLD-rated for Intel given valuation is unlikely to expand during slow growth phase, especially with lingering uncertainty for PC demand and the potential mix effects on consumer notebooks from ramping tablets.," Burleson said.

Mr. Burleson added, "Our estimates increase slightly on guidance although we were below consensus into the release." He lowered his 2014 Annual EPS estimate to $1.80 and increased his 2014 Annual Revenue estimate to $52.719B.

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel are down 4.4% early to $25.38.

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