MKM Maintains Bullish Contrarian View of Intel (INTC)
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Price: $23.92 -0.54%
Rating Summary:
23 Buy, 25 Hold, 6 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
23 Buy, 25 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Despite a nearly 7 percent increase in Intel's (Nasdaq: INTC) share price within 30-days, analysts at MKM maintained their bullish contrarian view.
"PCs are obviously weak, and Windows 8 adoption painfully slow, but our view is that the structural bear case - that INTC's technology has outstripped market requirements - is overblown," said analyst Daniel Berenbaum.
Near-term, he expects lower capex to create positive tailwinds for cash generation.
"With INTC's 4.2% dividend yield and dominant market share in server, and investor sentiment extremely negative, we view current levels as an attractive entry point for new money," said Berenbaum.
MKM Partners has a Buy rating on Intel with a price target of $24.00.
For an analyst ratings summary and ratings history on Intel (NASDAQ: INTC) click here. For more ratings news on Intel click here.
Shares of Intel closed at $21.45 yesterday, with a 52 week range of $19.23-$29.27.
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"PCs are obviously weak, and Windows 8 adoption painfully slow, but our view is that the structural bear case - that INTC's technology has outstripped market requirements - is overblown," said analyst Daniel Berenbaum.
Near-term, he expects lower capex to create positive tailwinds for cash generation.
"With INTC's 4.2% dividend yield and dominant market share in server, and investor sentiment extremely negative, we view current levels as an attractive entry point for new money," said Berenbaum.
MKM Partners has a Buy rating on Intel with a price target of $24.00.
For an analyst ratings summary and ratings history on Intel (NASDAQ: INTC) click here. For more ratings news on Intel click here.
Shares of Intel closed at $21.45 yesterday, with a 52 week range of $19.23-$29.27.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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