MKM Partners Has Bullish View on Intel (INTC) into Q1 Results; Stay Long-Term Focused

April 9, 2013 10:49 AM EDT
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Analyst at MKM Partners are positive on Intel (NASDAQ: INTC) into Q1 results on Tuesday, April 16th, after the market closes.

While investors remained concerned about the lackluster PC market, the analyst said the consensus already seems to be discounting Intel PC client down 10% year-over-year in the first-half, arguably to a low bar. In addition, while some are excited about a 2nd-half refresh driven by Haswell, they still hear more skepticism than optimism.

Investors in Intel need to be long-term focused, the firm said.

"Longer-term, we maintain our view that INTC will be able to monetize its technology and manufacturing advantage by gaining share in mobility, expanding its foundry business and continuing to dominate the data center space," analyst Daniel Berenbaum said.

The firm maintained a Buy rating and $24 price target.

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 $21.09 yesterday.

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