Jefferies Upgrades Intel (INTC) to Buy, $30 PT

September 13, 2013 6:41 AM EDT
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Price: $36.57 --0%

Rating Summary:
    42 Buy, 20 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 28 | Down: 28 | New: 23
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Jefferies upgraded Intel (NASDAQ: INTC) from Hold to Buy with a price target of $30.00 (from $27.00).

Analyst Mark Lipacis said, "We believe INTC offers one of the best alpha generation opportunities in semis: 1) it is finally focusing its manufacturing leadership to make MPUs that are lower power, higher performance and cheaper than competitive solutions. This new focus should translate to share gains in sub-$500 tablets, 2-in-1 PCs and handsets. 2) Consensus incorrectly assumes INTC's x86 MPUs have an inherent disadvantage vs ARM, and its 3yr, $60b investment nets to zero advantage."

The firm trimmed FY 2013 EPS from $2.02 to $1.88 but raised FY 2014 EPS from $2.06 to $2.15.

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 $22.63 yesterday.

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