Jefferies Maintains a 'Hold' on Intel (INTC); Beat and Raises, But Look to More Out-of-Favor Stocks

April 18, 2012 11:02 AM EDT
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Price: $36.80 +0.03%

Rating Summary:
    42 Buy, 20 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Jefferies maintains a 'Hold' on Intel (NASDAQ: INTC) price target raised from $27 to $31.

Analyst, Mark Lipacis, said, "INTC is benefitting from product cycles on the client side (Ivy Bridge) and servers (Romley), and we expect the combination of ultrabooks and Windows 8 to drive growth in 2H12. These positives are partially offset by elevated expectations for revenues, pricing and gross margins. We think the stock appreciates, but not as much as more out-of-favor stocks and stocks with leverage."

Jefferies raises FY12 EPS estimate from $2.46 to $2.57 and FY13 $2.75 to $2.85.

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 $28.47 yesterday.

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